Team New Zealand have today confirmed that Tauranga sailor Peter Burling will take over helming duties after skipper Dean Barker was replaced.

Last week brought a wave of speculation that Barker was set to be replaced – rumours that were denied by Team New Zealand at the time and described as 'inaccurate”.

Tauranga's own Peter Burling will take up helming duties alongisde Glenn Ashby. Photo: File.

Barker, who skippered Team NZ in four America's Cup campaigns, was involved in the review and restructuring process and has been offered the roles of Performance Manager and Sailing Coach along with a place on the executive committee.

Meanwhile Burling will take the helm alongside 2013 wing trimmer Glenn Ashby, who has been appointed Sailing Director.

In a statement released by Team New Zealand this afternoon, CEO Grant Dalton says: 'As mentioned, the team has just activated its next stage of preparations and on Monday 50 staff begin the role of planning and construction for the upcoming race series.

'We're hoping to retain Dean's 20 years of America's Cup experience in Emirates Team New Zealand but we also acknowledge it is time for new blood to be given the chance at the helm of the country's challenger.”