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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.

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