Dean Barker (L) and Peter Burling (R) (Getty Images )

Barker replaced as Team NZ skipper

Author: Newstalk ZB Staff,
Publish Date: Wed, 18 Feb 2015, 4:43PM

UPDATED 8.39PM: Dean Barker is being replaced as helmsman by Team New Zealand, with Peter Burling set to take over as the lead skipper.

Newstalk ZB has revealed the syndicate's plan exclusively on the Larry Williams show this afternoon.

Newstalk ZB has also confirmed there will be Government funding for the next America's Cup challenge - a qualifying series set to take place in Auckland in early 2017.

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America's Cup organisers will formally announce the plan next month.

Burling won silver in the 49er at the London Olympics and with Blair Tuke has won two world titles and has been unbeaten in the class since.

Burling and Dean Barker have shared the skipper's duties in the extreme sailing series.

Team New Zealand says no decision has been made on the helmsman for the 2017 America's Cup, and that is conducting a review across all operations, the sailing team included with a view to decreasing costs and increasing competitiveness.

Yesterday, Economic Development Minister Steven Joyce has refused to confirm the plan, but told NZME. News an Auckland venue "would make us much more interested in sponsoring the team".

Earlier today, Joyce doubted whether they'll stump up with another $36 million as they did last time.

"We'll just have to finalise that once we know for sure what's actually happening with the regatta," he said.

John Key said Team New Zealand will be largely funded by private sponsors, but we're different to bigger countries with wealthy businessman on hand to help.

"The question for a small country is do you give any assistance at all.

"I reckon if we won the last Cup, people would've said that was the best $36 million."

Andrew Little says he'd have to be satisfied that a sound business case stacked up.

"Yacht races tend to be populated by reasonably well-heeled people but if it can be demonstrated there are benefits to New Zealand that exceed any government contribution, then we should have a look at it," he said.