The chances of the America's Cup being defended in New Zealand appear to be slipping, with an offer worth around $100 million from the Government and Auckland Council apparently rejected.
Negotiators appointed by the Crown have been trying since March to thrash out a deal with Team New Zealand, which beat Luna Rossa to retain the Auld Mug on March 17.
The final race of the 36th America's Cup kicked off a three-month period of good faith negotiations, during which Auckland had the first right of refusal to host the next match. That window ends on June 17.
The joint bid by the Government and Auckland Council is believed to have been worth around $100m, made up of cash and "in kind" support such as the use of land in Auckland's Viaduct Harbour.
Mark Mitchell and Stuart Nash joined Mike Hosking to discuss this and the week's politics news.