WELLINGTON (Reuters) - New Zealand's government will help fund another America's Cup challenge after Team New Zealand had said members of their design and sailing personnel were being approached by 'vultures' in rival syndicates.
Team New Zealand (TNZ), were beaten by defenders Oracle Team USA, backed by software billionaire Larry Ellison, in a winner-takes-all final race on San Francisco Bay last week, after leading 8-1 at one stage with nine needed for victory, and the future of the syndicate had come under scrutiny.
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