Team New Zealand will start their defence of the America's Cup in Auckland on March 6, 2021.

Team New Zealand says the first series of races leading up to the America's Cup will not go ahead because of coronavirus fears.

"It is quite obvious that the ACWS Cagliari event cannot go ahead," Emirates Team New Zealand has said on Twitter.

"The teams are collectively entering discussions on a solution to create an equitable outcome for everyone around the loss and/or availability of sailing time due to the change of circumstance as a result of the global COVID-19/Coronavirus situation."

The America's Cup World Series on Cagliari on the Italian island of Sardinia was scheduled for April 23-26.

The finalsay on whether the regatta goes ahead lies with the the Challenger of Record, Circolo della Vela Sicilia, which has not yet commented, but the statement from Team NZ would appear to spell doom for the event.

Sardinia is off the coast of Italy where coronavirus has had a major impact.

The Associated Press reported that the ACWS series, which will see a new class of foiling 75-foot monohulls, make their debut, is a logistical challenge.

Team NZ's new yacht is en route to Sardinia, while American Magic, the New York Yacht Club's racing team, is in the process of preparing its yacht for shipping.