Emirates Team New Zealand and America's Cup Event Ltd have axed people they describe as informants, while MBIE is investigating the alleged leaks.
Emirates Team New Zealand unveil their new test boat Te Kāhu, meaning the Hawk. Photo: Supplied: Emirates Team New Zealand
In a release, Team New Zealand said they became suspicious about informants in the event organisation - ACE, or America's Cup Event Ltd - six months ago.
It said those suspicions were confirmed with confidential and sensitive information coming to them from Europe recently.
"The motives of the informants who had access to the Emirates Team New Zealand base can only be guessed at, at this stage," Team New Zealand said.
"In addition, these people have made highly defamatory and inaccurate allegations regarding financial and structural matters against ACE, ETNZ and its personnel.
"These allegations are entirely incorrect."
Team New Zealand said the contracts of the informants had been terminated and despite the allegations being "baseless," MBIE has no choice to investigate.
The ministry is the lead agency involved in staging the Americas Cup next year.
"We are working with MBIE to close out the remaining issues with them quickly," Team New Zealand said.
"Emirates Team New Zealand and ACE will not let this set us back in our America's Cup defence or hosting of a great event this summer."