The Government will contribute $1.5 million to help Auckland City Council host a stopover for the 2011-12 Volvo Ocean Race.
Economic Development Minister Gerry Brownlee says the money will come from the Major Events Development Fund.
He says such stopovers provide significant economic benefits for host cities, generating millions of dollars of economic activity.
Mr Brownlee says the Volvo Ocean Race stopover will also be another opportunity to showcase Auckland and New Zealand to the world.
The stopover for the round-the-world race is likely to mean teams would stay for a 16-day period in March 2012.
