Hosting America's Cup 'barely worth it'
The Ministry of Business, Innovation and Employment (MBIE) admitted errors in its report on the economic benefits of hosting the America's Cup in Auckland. Its initial cost-to-benefit ratio estimate was between 1.8 and 1.2, meaning benefits would outweigh cost by between 80 and 20 percent. However, it revised this to a high of 1.14 and a low of 0.997. Sam Warburton, who reviewed MBIE's numbers, tells Larry Williams why “hosting the Cup in Auckland would be barely worth it."