Auckland has been confirmed as a stopover for the next two Volvo Ocean Races.
The round-the-world yacht race will stop in Auckland in 2014-15 and again in 2017-18.
The Ministry of Economic Development says it will invest $3 million to host both the races and Auckland Council says it will contribute $5.5 million.
The ministry says hosting the races is expected to put $14.8 million into the country's GDP.
It said the 2012 event generated $6.3 million and attracted about 275,000 spectators.
While there's no guarantee of a New Zealand team in the next event, Volvo Ocean Race chief executive Knut Frostad says he expects there will be one at the start line.
The dates of the 15-day stopover in 2014-15 will be announced in February.