A Kiwi businessman is adamant the next America's Cup will stay in New Zealand.

An entity linked to former investment banker Mark Dunphy is offering to provide short term funding to defend the Auld Mug in Auckland.

Dunphy told Heather du Plessis-Allan they've made a formal proposal to Team New Zealand and chief executive Grant Dalton.

“There are communications and we’re just so keen to get around the table with them. No intermediaries, but we are, I suppose, just in the sort of, a bit like having a dance before you get around the table.”

Dunphy says they're willing to start off by matching the Government, and writing a $5 million cheque for the team to keep discussions going.

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