We will be back!

Posted July 1st, 2007 by Dr James Pratt

They failed to win the America's Cup this morning losing to Swiss holder Alinghi. But Team New Zealand's future now looks assured.

The New Zealand government announced in the wake of this morning's 5-2 result in Valencia it will bankroll another tilt at brining the auld mug home.

When and where the next regatta is yet to be confirmed.

But economic development minister Trevor Mallard said the government would provide $10 million to get the ball rolling and several more million in the coming months.

Team New Zealand boss Grant Dalton said it was a great gesture and he would be back at the helm of the team.

"I have put my name forward and said I will run another challenge," he said.

"[The government's contribution] is an amazing step by the Labour government and I know we have huge support from the prime minister, Michael Cullen and the cabinet," said Dalton.

"And Trevor [Mallard] has been here the whole time and he is feeling like we are feeling it at the moment. His support has been sensational and without them we would have been finished."

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