Jacinda Ardern congratulates Team New Zealand after clinching America's Cup 2021

The Prime Minister has offered her congratulations to Emirates Team New Zealand after their hard-fought America's Cup win - and less than an hour on from the triumph, her Government is already talking about clinching the next one.

The Kiwis cruised to a one-sided win in race 10 on Wednesday to take the series against Luna Rossa Prada Pirelli 7-3, meaning they'll retain the Auld Mug for another two years.

Jacinda Ardern says the team has "once again made us all so proud".

"On behalf of all of Aotearoa I congratulate Grant Dalton, Peter Burling and the whole team, those on the water and off it, for their achievements," she said.

"Peter Burling and his crew of skilled sailors showed what they were capable of in all conditions, highlighting the tactical brilliance and sheer hard work of everyone involved.

"Following a hard year, Team New Zealand provided such optimism and excitement. I know with all the international limitations that COVID created this wasn't the competition they expected, but they’ve made us so proud."

Opposition leader Judith Collins also hailed the triumph in a Facebook post.

"So proud of Emirates Team New Zealand today," she wrote. "The America's Cup stays New Zealand's Cup!"

Minister for Sport and Recreation Grant Robertson joined the chorus of praise for Team New Zealand, expressing his admiration for the Kiwis' efforts and calling it "a great day for the team and a great day for Aotearoa".

"The team itself is an extraordinary group of people, and I want to acknowledge all of them, foremost Peter Burling who has shown himself in this regatta to be a world-class skipper, somebody who's got nerves of steel," he said.

"It's an event with such a rich history… I know a lot of New Zealanders tonight will be extremely proud, not only of their country, but also this amazing group of sailors."

Stuart Nash, Minister for Economic and Regional Development, hailed Team New Zealand's "innovation, technology, guts and hard work" during the regatta - and made it clear the Government will be backing them in their pursuit of three America's Cup victories in a row.

"We want to see it all over again in 2023," he said.

"The Government has already agreed that the successful America's Cup team will be supported to stay together while it plans its next defence of the Auld Mug.

"Cabinet has agreed to invest in the team from within existing budgets... The defence of the Cup offers a global opportunity to promote New Zealand as an innovative and successful nation, with spin-offs in areas like tourism and export deals."

A $136.5 million kitty was set aside in Budget 2018 for America's Cup-related infrastructure, and Nash says not all of that's been spent. He says Cabinet has agreed to use the money leftover "to keep the successful team together" ahead of the next America's Cup regatta.

"The final details are still subject to negotiations, however it is likely to be a similar sum to that paid after AC35 in Bermuda in 2017, when $5 million went towards the team to help it prepare for AC36 this year."