monohull design

The deal was brokered by a British company on behalf of Team New Zealand.

While TVNZ have the exclusive TV rights, it is understood fans will be able to access live racing via an America's Cup app.

As part of TVNZ's agreement, NZME's Newstalk ZB and Radio Sport will deliver exclusive radio commentary of the event.

The extra money from the bidding war is a bonus for Emirates Team New Zealand and will help with the design and build costs of their first AC75 foiling monohull which is now under way.

The development solidifies the desire of Team New Zealand to broaden the reach of the America's Cup after Sky TV won the rights to the last regatta in Bermuda where the Kiwis sensationally beat Oracle Team USA to win backthe event to free-to-air TV and assured sports fans that the broadcaster wouldn't break to ads during live racing.

"The event returning to TVNZ brings to mind Peter Montgomery's iconic TV commentary – 'The America's Cup is now New Zealand's Cup' – because it brings the whole country together and as a nation we're really invested in the team's success," he said.

"We're going to push the boat out to make our coverage accessible to the biggest audiences so everyone feels part of the action."

The broadcast deal covers:

America's Cup World Series 2019

America's Cup World Series 2020

America's Cup Christmas Race 2020: Auckland

Prada Cup - Challenger Selection Series 2021: Auckland

36th America's Cup Match Presented by Prada 2021: Auckland