The Cupholders refuse to deal with businessman Mark Dunphy, responsible for the late Auckland bid.
"We can't accept money, until we know we can verify its sources."
The holders of the 'Auld Mug' will also explore a last-minute proposal to host the regatta in Auckland.
With a formal announcement due next Friday, Team NZ boss Grant Dalton insists they're yet to lock in a venue.
"It is seen as something that will only benefit everyone in the sport of sailing."
"Mr Dunphy has publicly undermined team structure, as well as the absolute dedication and commitment that Dalts has displayed."
Team NZ boss Grant Dalton gives only a ‘small’ chance of NZ-based regatta.
"It's upgraded the harbour front."
It's proposing a fan club of commercial supporters.