Bermuda is well positioned to host events associated with the next America’s Cup — and the island took high praise from ACBDA for its delivery of the races.

Peter Durhager, chairman of ACBDA, along with chief executive Mike Winfield, commended the island for trumping naysayers, as the world’s sixth country to host the event, in “punching above its weight”.

Mr Durhager also warned that Bermuda should “guard against small-town attitudes that hold us back” in the global economy. While an assessment of the benefits is set to come out in October, Mr Durhager said indicators were “overwhelming” as to the event’s success.

“We also expect to deliver Bermuda’s commitments well within our overall budget, and that our governance, financial transparency and discipline will set the standard for other, similar organisations and entities,” he added.

Reports should be ready by early October, Mr Winfield said, cautioning against rushing for an assessment.

“Other regattas and events are in discussion — much of this results from Bermuda having established its credibility in being able to host international events,” he added. With Emirates Team New Zealand emerging victorious, Mr Winfield emphasised that there remained “a lot of wait-and-see” when it came to Bermuda’s role in the 36th America’s Cup.

But he was heartened by remarks from Grant Dalton, the New Zealand CEO, that “New Zealand looks forward to discussing with us the future events”.

Mr Winfield said: “That’s the first time any new defender has committed to a destination.”

ACBDA has fulfilled its specific and is now winding down, and the potential value to the island of an organisation like it would be “up to the Government of the day”.