An agreement has been reached on the Auckland waterfront venue for the America's Cup in 2021.
The expected contributions are $114m from the Crown including a $40 million host contribution, and $98.5m from Auckland Council.
The location, known as Wynyard-Hobson entails a 6,600 square metre area into the harbour at Hobson Wharf.
The signed agreement is subject to approval by the Auckland Council Governing Body, which will meet on Thursday.