The New Zealand government has agreed to spend around $32 million to help send a national team to compete in this year’s America’s Cup.
Sailing is a notoriously expensive sport and the decision to compete in hi-tech aerodynamic catamarans has seen the cost of competing in the America’s Cup skyrocket to around $100 million.
The costs of racing this year are so high that it the event has only attracted three other crews to the event.
These boats are temperamental beasts that are prone to capsizing which can put an expensive hole in your pocket – it can cost millions of dollars just to replace the sail if damaged!
We hope for our counterparts across the ditch that nothing goes awry for them; a broken mast or sail tear would be a quick, gut wrenching reminder of public money badly spent.
While Australians can enjoy this isn’t our money being spent, we can’t be complacent. We are just as mad when it comes to taxpayer funded support for Australian sport.
The 2013-14 Commonwealth Budget had nearly $400 million in government spending on ‘sport and recreation’ for the upcoming financial year alone.
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