Blair Tuke and Peter Burling say the team is doing "everything it can" to host the event in our waters.
The Kiwi boat's fifth-place finish in the final fleet race wasn't enough to secure a spot.
The Kiwi boat is within range of the leaders after three races in Taranto.
"When governments compete with each other to subsidise boat races that rich people tend to enjoy, the winners aren't taxpayers."
The opening round of sailing didn't lack drama.
The NZ challenge struggled in its debut outing for the global sailing league in Bermuda.
Only four women were a part of Team New Zealand's winning crew.
The former director of the ASB Classic is swapping the tennis court for water.
The Garden City is one of several new stops added to the circuit.
