America's Cup: Team NZ reject millionaire Mark Dunphy’s calls to axe CEO Grant Dalton

  • 01/09/2021

A core group of Team NZ has hit back at the Kiwi multi-millionaire who has called for the head of chief executive Grant Dalton.

Greymouth Petroleum CEO Mark Dunphy claims to have assembled a private consortium of backers that would fund Team New Zealand's home defence of the America's Cup - but only if Dalton is removed from the management team.

But members of Team New Zealand - described as "long-term members" - have rejected his proposal as "mind-boggling" and strongly backed Dalton to lead the squad in the next defence.

The group says Dunphy's intervention is unwelcome. 

"As dedicated members of Emirates Team New Zealand some of us have been part of this team and in the America’s Cup for longer than many, including Dalts," says a statement posted on the team’s website.

"We have experienced the good and bad, the wins and the losses, and everything in-between and think that makes us well qualified to say who we think is best to lead this team to defending and winning the 37th America’s Cup.

"So, for an assumption to be made that, as a group of people, we would simply welcome the departure of someone like Dalts, who has achieved more and given more than you could ever imagine to this team, to our country and to other people is mind-boggling."

The group, which remains anonymous, says Dalton is the "heart" of Team NZ that has won consecutive America's Cup regattas, including the Auckland defence earlier this year.  

The statement insists Dunphy, who has a net worth of more than $NZ200 million, has had just one conversation with Dalton, and continues to refuse to meet him or the board in person.

"Mr Dunphy has publicly undermined team structure, as well as the absolute dedication and commitment that Dalts has displayed relentlessly for 18 years, since taking over the running of what were the ashes of a defeated team, to build it back up to be the most successful America’s Cup team in modern history with our proud yacht club, the Royal New Zealand Yacht Squadron.

"Mr Dunphy has not shown any transparency or consultation with the team, and has in no way, shape or form offered confidence in a process that would allow a successful defence of the 37th America’s Cup, which once again remains our sole focus, alongside the treatment of our people - without them, we would be nothing."

Team NZ, in conjunction with Royal New Zealand Yacht Squadron, will announce the host venue of the next America's Cup on September 17.

A New Zealand-based defence has been described by Dalton as "unlikely", with the Government unwilling to increase their offer of NZ$99 million.

Dalton and the management team want a deal that would fund a third consecutive campaign, with several offshore bids said to be in contention.

"To be clear, as much as we would love to race in Auckland, we would rather win proudly flying the flag of New Zealand, the RNZYS and our team anywhere internationally than undermine the structure of a winning team and face losing in Auckland.

"None of us want a repeat of 2003."