Kerre Woodham: Can we really afford to host the America's Cup right now?

Who doesn't love hosting a good party? Who hasn't enjoyed the buzz that comes from having people from all over the world heading into town intent on having a good time?

Even if you can't afford the price of the tickets to the Rugby World Cup, or through fee for Women's World Cup, or you haven't got a gin palace to head out on the water to get up, close and personal to the America's Cup racing, you can still share in the good times and the positive vibes that are generated when a marquee event is set up in New Zealand.

Attention, of course, is now turning to whether New Zealand can mount a defence of the America's Cup and New Zealand waters. Of course we can do it, we've done it before, it's whether there's a willingness to do it.

Former Prime Minister and patron of Emirates Team New Zealand Helen Clark says the case for public funding to host a future America's Cup is as strong as when her government was a significant financial backer. Clark's Labour-led coalition backed hosting the 2003 event in Auckland and sponsored the team in Valencia and San Francisco for the 32nd to 34th iterations of the America's Cup. She said it was all-round a hard economic case of what is good for New Zealand.

But right now, in this time, can we afford it? And really, when you crunch the numbers, could we even afford it back then?

The Government says it's open to a discussion about hosting the Cup in New Zealand, but any government support would need to be assessed against many other competing priorities in these tight economic times and demonstrate clear value for money and economic benefit.

When you have got the sort of infrastructure spending that we need, when you've got community groups that are crying out for funding, which has been cut or has been cut back, can you really make a case that hundreds of millions of dollars taxpayer dollars should go to a defence of the America’s Cup?

How you work out whether it will indeed be profitable depends on which report do you want to commission and which report you want to read. Helen Clark says Barcelona used the hosting of the cup as a catalyst for reviving its economy, and it's absolutely thrilled with the outcome of it. Five years from now, you'll probably read a report saying poor decision.

When we last defended the America’s Cup, it was extraordinary times. We're in the middle of lockdowns, open for business and then we were not. It was very odd times. And not nearly as many people as organisers had hoped made their way to New Zealand (who can blame them) for spending hundreds of thousands of dollars and getting their boats redesigned and rebuilt and refurbed by skilled New Zealand Craftsman.

All of the cases made for hosting the America's Cup fell a bit short and a fell a bit flat. And if you look at other countries around the world too, they say it cost them an awful lot, a bit like hosting the Olympics.

Conversely, you look at the FIFA Women's World Cup that appears to have been a success, again depending on the reports you read, but it appears to have been a success both in terms of the profile of the sport, support of the sport and turning a buck.

In these times, where we've all been told and I've said and you know, that things are tough. Right now, most of us are dealing with the have to haves, not the nice to haves. We're trying to find money for the essentials, the necessaries of life. Not the frilly, gorgeous, good time of fun things of life.

Is now the right time to be saying hold it here, because Emirates team New Zealand won a lot of money? They have to have a lot of money. It's an expensive sport. These are expensive sailors. There are a lot of rich men who want the kudos of being the one that won the America’s Cup. They're willing to spend billions to do so. And they will pay any price.

And I think we've all grown up and got past the whole New Zealand sailors should simply sail for the love of their country. Remember the BlackHearts campaign? Just about tore ZB apart. So it costs and Emirates Team New Zealand will make whoever wants to host it pay through the nose for the privilege of doing so.

Is now the right time? Doesn't appear to be.

The only thing I'd say in its favour is that we've got all that infrastructure there at the Viaduct. It's not being used.

It would be at about 40 percent capacity, which is a damn shame. Everything was built and nobody came because of the extraordinary times.

So it would be nice to see that that investment could be used, could be capitalised upon. But right now I would say hosting a defence of the America’s Cup would be in the nice to have category, not in the is absolutely imperative that we do so category. 

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