Sail Grand Prix will make its long-awaited debut on NZ waters next year.
The global sailing league will take place at Christchurch's Lyttelton Harbour on March 18 and 19 in 2023.
The event will be one of nine stops in the competition's expanded calendar for season three and the first in a new four-year commitment to New Zealand.
Auckland's Hauraki Gulf will also host the event on an alternating yearly basis.
Christchurch was scheduled to host the first NZ event in January, until MIQ restrictions forced organisers to cancel.
Organisers project the event will inject $27 million into the local economy, while stimulating regional tourism and drawing up to 10,000 international and domestic spectators.
The brainchild of Kiwi sailing great Sir Russell Coutts and American billionaire Larry Ellison, SailGP features mixed-gender crews from eight nations competing in identical foiling catamarans.
America's Cup champions Peter Burling and Blair Tuke will lead the New Zealand challenge against teams from Britain, the United States, France, Spain, Japan, Denmark, and Australia. Canada and Switzerland will also join the league next year.
New Zealand finished fifth in the competition's final standings last season.