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Team NZ funding row ends with MBIE apology

Team NZ funding row ends with MBIE apology
Newshub
22/12/2020
© Image - Photosport; Video - Newshub
Grant Dalton with the Auld Mug.
A dispute between Team New Zealand and the Ministry of Business, Innovation, and Employment has come to a sudden end.
On Tuesday, the MBIE agreed that a $3 million payment to the team by its event arm was made in good faith.
The row dates back to July 2019, after an audit of how America s Cup Event Limited (ACE) had spent MBIE s contribution to the event.
Auckland s America s Cup Village officially opens
Replay Video
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ACE claimed their $3m had contributed to developing Team NZ s cutting-edge AC75 monohull class, which MBIE rejected. ....

United States , New Zealand , Grant Dalton , Team New Zealand , America Cup Event Limited , Ministry Of Business , Cup Event Limited , Host Venue Agreement , ஒன்றுபட்டது மாநிலங்களில் , புதியது ஜீலாந்து , மானியம் டால்டன் , அணி புதியது ஜீலாந்து , அமெரிக்கா கோப்பை நிகழ்வு வரையறுக்கப்பட்டவை , அமைச்சகம் ஆஃப் வணிக , கோப்பை நிகழ்வு வரையறுக்கப்பட்டவை ,

ETNZ and ACE settle dispute with NZ government department

ETNZ and ACE settle dispute with NZ government department
22 December 2020
Media release issued by MBIE on December 22, 2020:
New Zealand s Ministry of Business, Innovation and Employment (MBIE),the Defender of the America s Cup Emirates Team New Zealand (ETNZ) and America s Cup Event Limited (ACE), the body set up by ETNZ to run the events, have met today in a mediation setting to resolve issues regarding whether the creation of the Class Rule for the America’s Cup was an Event Cost under the Host Venue Agreement.
We regret the manner in which this issue has played out in the public arena and the detrimental reputational impact of the process on ETNZ and ACE, its directors and the teams. ....

United States , New Zealand , America Cup Event Limited , Zealand Ministry Of Business , Cup Emirates Team New Zealand , Cup Event Limited , Class Rule , Event Cost , Host Venue , Event Costs , ஒன்றுபட்டது மாநிலங்களில் , புதியது ஜீலாந்து , அமெரிக்கா கோப்பை நிகழ்வு வரையறுக்கப்பட்டவை , ஜீலாந்து அமைச்சகம் ஆஃப் வணிக , கோப்பை அமீரகங்கள் அணி புதியது ஜீலாந்து , கோப்பை நிகழ்வு வரையறுக்கப்பட்டவை , வர்க்கம் ஆட்சி , நிகழ்வு செலவு , தொகுப்பாளர் இடம் , நிகழ்வு செலவுகள் ,

America's Cup: Ex-Cup minister wanted Grant Dalton to drop CEO role after funding row

Stuff.
“I take my hat off to them, they have done a fantastic job,” he said.
Nash’s comments came during a visit to the America’s Cup village on Auckland’s waterfront, but behind the scenes a bitter mediation process is underway between Team NZ and MBIE.
Not-For-Syndication
Grant Dalton is chief executive of the team and of its event company ACE.
Team NZ claimed MBIE mishandled allegations made to it about how ACE and the team were managing government funding from MBIE, which has committed $40 million to event costs.
MBIE received confidential information early in 2020 from a whistleblower, later identified as ACE event sub-contractor Mayo and Calder, and commissioned a forensic audit without telling ACE the grounds. ....

United States , New Zealand , Stephen Tindall , Iain Cossar , Tina Symmans , Carolyn Tremain , Stuart Nash , Phil Twyford , Grant Dalton , Beattie Varley , Mayo Calder , America Cup Event Limited , Team New Zealand , Ministry Of Business , Cup Event Limited , Official Information , Sir Stephen Tindall , Italian Challenger , Sir Stephen , ஒன்றுபட்டது மாநிலங்களில் , புதியது ஜீலாந்து , ஸ்டீபன் டிண்டால் , இயேந் கோசர் , கரோலின் நடுக்கம் , ஸ்டூவர்ட் நஷ் , பில் ட்வைஃபோர்ட் ,