LIFESAVER?: Flamboyant multi-millionaire Kim Dotcom says he will throw a lifeline to Team New Zealand to stop its America's Cup campaign from capsizing.

No more government funding? No problem.

With Prime Minister John Key non-committal about dipping into the Government's pockets for an America's Cup challenge, New Zealand's most notorious internet mogul is stepping up.

No doubt delighting in tweaking the prime minister, Kim Dotcom tweeted this morning he would become a Team New Zealand sponsor and bring back the Auld Mug.

"Prime Minister John Key says no more funding for Team NZ?" Dotcom wrote. "I say #Mega will become a Team NZ sponsor & we will win next time. #AmericasCup"

Dotcom told One News he was serious about sponsoring Team New Zealand and liked the idea of taking on Larry Ellison.

He said he would be able to make a significant contribution. Dotcom had not talked yet talked to Team New Zealand.

Key said today whether or not Dotcom put money up for an Americas Cup challenge would not have any bearing on the Government's decision on funding.