The New Zealand government's pledge to back another America's Cup challenge has given skipper Dean Barker confidence the team can have another go, but he says they have "weeks, not months" to seal a deal.
Team New Zealand received $36 million of taxpayers' money for their failed attempt at the 2013 America's Cup, losing 9-8 to holders Oracle despite leading 8-1 at one stage.
There had been doubts whether the government would fund another campaign, but Economic Development Minister Steven Joyce told thousands of fans at Shed 10 in Auckland, along with Barker and Team NZ head Grant Dalton, that it would support another crack at the Auld Mug.
"This country and this government stands ready to be a part of the next America's Cup campaign," he said.
"As I've said to Grant and Dean in the last 24 hours, 'you've got a lot of work to do'. I said 'bring us a proposal and we will work with you on it."
Barker said there was no guarantee that Team New Zealand would be there for the next America's Cup but the government announcement was a great help.
"It gives us a lot more ability at that point to be able to keep pushing on to mount a challenge."
Barker said the team can't commit fully with sponsors until early 2014, when they expect to discover where, and in what boats, the next cup will be staged.
"But we've got a period of weeks, certainly not months, to secure the key guys we need to form the nucleus of the team ... because without those key people, the team won't exist."
Whether one of those people will be Dalton, who hinted he might not be back shortly after Oracle secured the Cup, is yet to be decided.
But he didn't rule out staying with the team should its directors want him.
"Monday's a new week. I've only just got back so I need to think about that a little bit."
Barker said he wanted to be part of the next campaign but it was up to the team to decide who should be skipper.
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