Yes it is a shame, but as Not PC said "Whatever the successes on the water this time - and make no mistake, what Dalton and Co have achieved is fantastic - that's my money these boat builders are calling an "investment"".
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and so I am glad in one respect. As one commenter (Hitman) on Not PC's blog said:
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"It's kinder for all if they lose now rather than win the cup and bring it home to be projected as a symbol of the successes of glorious national socialism. The cup does not belong in a collectivist outfit such as NZ. You people do not deserve it. No way."
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That is a fair point. If Team New Zealand had won, you can be sure that the government would have milked it for all the glory and talked about how it (you, without any choice) supported the great and glorious campaign for this sporting trophy.
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While one shouldn't celebrate the waste of government money (it's not theirs after all, it's yours - money you'll never get back), there is a sense of justice in this.
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The Swiss syndicate of Alinghi, privately funded and sponsored won. Nobody was forced to pay for Alinghi. Team New Zealand was partly compulsory funded by New Zealand taxpayers rich and poor, including many who have no interest in racing. Indeed, the state funding helped prop up a very high profile sponsorship campaign by Emirates - an airline owned fully by the UAE Government.
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How many Labour supporters truly believe this is morally defensible? (and remember arguments that it is "an investment in tourism" could be sustained for the government sponsoring just about any major international sports event - and this "investment" just burnt money in a black hole of the syndicate).
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As you can see, the Labour government and quite probably its lickspittles (NZ First, United Future and Anderton) are keen for you to continue to be forced to pay for competing in the most prestigious yachting race in the world. However, it can't afford a tax cut, and no you'll still have to wait for that hip replacement, varicose vein operation or other surgery you need to make your life more comfortable. Why would Telecom, Steinlager or the Lotteries Commission bother to sponsor (they already bailed out) when the Great Leader makes you help pay?