Buongiorno! Italia is going to host the 38th America's Cup in summer 2027. 

The Auld Mug once again heads to European waters - the first time the Italians will play host. They've had the World Series but never the big one.

It'll be Mt Vesuvius in the background, not Rangitoto. Pizza lining the bellies of fans, not fish and chips.

Auckland has missed, which we already knew. Athens has missed out.

Giorgia Meloni's excited. Luna Rossa, obviously pumped. 

But the question for you this morning: do you wake up feeling jealous? Was there a pit of disappointment in your stomach?

Do we lambaste our messily, stingy government for not prioritising a sailing race? 

My feelings are, well it's nice they have somewhere to sail and good luck to them. 

But I don't feel FOMO.

We were on the hook for tens of millions of dollars - Wayne hasn't got his bed tax, yet. 

Politically, it was the right call, too. 

Imagine with this announcement coming a week out from Budget Day the outcry from the unions and Opposition.

You're spending how much on men sailing round the harbour while cutting women's pay? Can you just imagine it?

Plus, when we debated all this a few months back, we didn't know at that point Dalton was quietly walking away contract negotiations with Peter Burling. 

So, we would have spent millions a race for a boat with an Aussie at the helm, not our beloved Burling. 

And that's fine. We've had one before in Glen Ashby, but there's no doubt the preference was for Burling to continue. Grant Dalton told me that at the time. 

But there's a bigger point here.

When times are tough, when the kitty's running on low, you can't afford the nice to haves. 

For Team New Zealand, that was Burling. For us, it was the competition itself. 

And if you're worried Dalton has regrets about Auckland failing to get a look in, take a look at the press release for today's announcement. 

He say's Italians, not us Kiwis, are quote "the most passionate and engaged America’s Cup audience in the world and the city is the best option for growing global audiences". 

It's summer in Europe. If you're sailing mad, might be time to look at some flight options for a mid-winter getaway.

Some difficult Captain's calls have been made, but for us, and for them, it sounds like they were necessary ones and the necessary choices are always the right ones.