The next America's Cup will not be held in Auckland. 

Auckland Council's events arm, Auckland Unlimited, has confirmed the city is unable to proceed with its bid for the 2027 event.

The agency says its bid was contingent on a three-way funding partnership between Auckland Council, central Government, and the private sector.

AUT sailing professor Mark Orams says this development is unsurprising - as it was a long shot for Auckland given the current economic climate.

LISTEN ABOVE