The brainchild behind SailGP believes this weekend's inaugural New Zealand event could be here to stay for the long term - unlike the America's Cup, which has been lost to the lucrative foreign dollar.
With plans to grow the SailGP calendar significantly in the future, Sir Russell Coutts can see New Zealand becoming an iconic annual event.
It was a historic moment for SailGP on Thursday, as the fleet of F50s hit the waters of Lyttelton Harbour for the first time.
"We've been waiting for this for a long time," Coutts said. "I always knew that this would be a spectacular venue."
The event is a sellout and it's expected to provide a significant boost to the local economy.
SailGP's first season in 2019 saw an average economic impact return at venue cities of $37 million dollars. This year in Spain they set a new record of over $90 million dollars.
"It's actually already a property that cities can actually see the value in and we have quite a process to expand that Calendar over the next season," Coutts said.
That will see SailGP go from 11 to 12 events next year, and Coutts hopes that number will eventually reach 20.
But in a game where money talks, is New Zealand in danger of losing out to the bigger foreign dollar in years to come?
"I don't think so," Coutts insisted. "I think New Zealand's got a strong case for keeping the event here in perpetuity."
Coutts believes New Zealand's sailing culture has the potential to make the event a fixture on the calendar, with the hope international broadcast dollars and global sponsorship make it a profitable stop for SailGP.
"Oh, I certainly hope that in 10 years' time, it will be on the calendar and be an established event that people enjoy coming to every year," Coutts said.
With the event locked in for the next four years alternating between Christchurch and Auckland, there's reason to hope it could be around for well beyond that.
Join Newshub at 3:30pm Saturday and Sunday for live updates of NZ Sail GP
