Auckland Council has received a confidential briefing on claims of misspending by yachting syndicate Team New Zealand.

Mayor Phil Goff arranged for the briefing this morning, which was attended by some councillors and led by Ministry of Business, Innovation and Employment (MBIE) officials.

MBIE is investigating claims of misspending by Team NZ and the organisers of the America's Cup, which is set to begin in Auckland in January.

A spokesman for Goff said the meeting was about reiterating what the council's contribution, role and obligations were in relation to the 36th America's Cup.

It also ensured councillors could ask questions and be kept informed of the scope of the MBIE investigation, the spokeswoman said.

"It was also noted that there were no council funds contributed to the $40m hosting fee in question, which was fully covered by central Government."

Goff ruled out any council contribution to the hosting fee in 2018.

But the council is still heavily invested in the event and its economic benefits.

It is spending $113m on the Cup, and another $100m on upgrading the waterfront in time for the event. Another $20m will be spent on supporting the regatta and other events next year.

A council spokeswoman said the briefing also included an update on what work has been completed so far in relation to the council's investment. No further details were provided.

Councillors who attended the meeting said they could not comment on what was discussed.

The Government is also contributing $136m towards the hosting of the Cup, and its payments are ongoing despite the active investigation.

Among the allegations made against Team NZ and America's Cup Events (ACE) are that $3 million in funding was "reclassified" and ended up in a Hungarian bank account.

Team NZ boss Grant Dalton has confirmed that the team lost a seven-figure amount, but said that it was the victim of an international scam. No public money was lost in the scam, he said yesterday.

Other allegations raised by the council and MBIE include concerns about mishandling of public money, the operation of the Cup itself, and worries about public safety.

Dalton and ACE have denied any wrongdoing, and say the event will not be derailed by the investigation.