Auckland has been confirmed as the host of the next America's Cup.
Mayor Phil Goff announced the details of an in-principle agreement between Auckland Council, the Government and Emirates Team New Zealand on Monday.
He confirmed Wynyard Point has been agreed as the location of the America's Cup bases in 2021. The council will vote on Thursday to finalise the decision.
"We have agreed a base configuration that is less expensive than previous options and requires a much smaller extension into the harbour," Mayor Goff said in a statement.
He said the land will ultimately become a "linear park" and public space to be used after the event.
"The sheltered water area between Wynyard and Halsey Street wharves will also be a valuable asset for other maritime sports events such as dragon boats and Waka Ama."
Construction of the bases will total $212 million - $98.5 million of which will be contributed by the council. The Team New Zealand hosting fee is included in the Government's contribution.
"Under the agreement, the Viaduct Events Centre will now be home to Emirates Team New Zealand without extending Halsey St wharf into the harbour," Mayor Goff said.
"One base will be on a Hobson Wharf extension and up to five bases on the eastern side of Wynyard Point."
If the council approves the resource consent on Thursday, it will be lodged by April 6.