America's Cup syndicate Emirates Team New Zealand finally got some good news after a rough year and a half. Emirates airline announced it will return as the team's major sponsor, which could help it reach the starting line of the challenger series in Bermuda in 2017.
In a Cup cycle full of upheaval, this is the most significant commercial sponsor to announce backing of a team.
"It's a brick in the wall but a significant one," Emirates Team New Zealand boss Grant Dalton said from Auckland.
There had been speculation that Emirates might not return as the team's top sponsor, perhaps forcing the Kiwis to drop out.
Oracle Team USA, which stunned the Kiwis with a dramatic comeback to defend the America's Cup in 2013, picked Bermuda to host the 2017 regatta, causing sponsorship problems for teams and the event itself.
Emirates doesn't fly to Bermuda and thus would have no direct marketing tie-in.
"Nobody flies to Bermuda," cracked Dalton, who was among those opposed to the choice of the British territory over San Diego to host the 2017 America's Cup.
But both Emirates and Dalton said the relationship was strong enough to continue.
"They've stuck with us through thick and thin," said Dalton, who declined to provide financial details. "They're a global airline which values its relationship with this part of the world and we're their primary property in this hemisphere. They're a long-term player for us, since 2004, and decided that relationships don't just come and go. We're really lucky to keep them."
Would the Kiwis have been able to continue without Emirates?
"It would have made it a real challenge financially and it's already a challenge, and it would have sent a message we may not have been able to recover from," Dalton said.
Emirates Team New Zealand is in danger of losing its government funding because America's Cup officials pulled a qualifying regatta from Auckland during a spat over changing the size of the boats in the middle of the cycle. The Kiwis are seeking arbitration and Dalton said they won't back down.
Italian billionaire Patrizio Bertelli was so incensed about the change in boat size that he pulled Luna Rossa Challenge out of the competition.
Sir Tim Clark, the airline's president, said in a statement that the decision to renew a relationship that began in 2004 was recognition of the success of Team New Zealand in helping build the Emirates brand globally.
"Our re-commitment for the next America's Cup challenge ... is testament to the spirit, skill and strengths the team has shown," Clark said. "Our investment in Team New Zealand is one of the reasons Emirates has continued to soar in brand recognition."
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