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San Francisco likely to host America's Cup
Source: Agencies |
November 11, 2010, Thursday
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THE chances of the next America's Cup being sailed with a backdrop of the Golden Gate Bridge, Alcatraz and the Coit Tower improved dramatically on Tuesday.
Officials in San Francisco, California, finalized a host city agreement with the Golden Gate Yacht Club, which backs America's Cup defender BMW Oracle Racing. The agreement quickly was submitted to the Board of Supervisors, which must approve it. Six of the 11 supervisors are co-sponsors of the agreement.
The Board of Supervisors voted 9-2 on October 5 to approve a term sheet that was a precursor to a host city agreement. The city pledged in the term sheet to help raise US$270 million from corporate sponsors to help defray the costs of staging the regatta.
"I think this is more than significant," said Tom Ehman, a spokesman for the GGYC and member of its America's Cup Committee. "It's a big step forward for the 34th edition of the Cup. There can be no better venue for sailing than San Francisco Bay. Personally, I and the GGYC are very excited by the prospects and delighted with this latest development."
San Francisco's only competition is Italy. Valencia in Spain, which hosted the America's Cup in 2007 and in February, no longer is under consideration for the main regatta, Ehman said. However, the Spanish port could host a preliminary regatta.
Italy is in the mix because Club Nautico di Roma is the Challenger of Record, which represents the interests of all challengers.
A final decision from GGYC and BMW Oracle Racing is expected by the end of the year. BMW Oracle Racing is owned by software billionaire Larry Ellison, the CEO of Oracle Corp.
Ehman said GGYC was "pleasantly surprised" that six supervisors co-sponsored the agreement.
Officials in San Francisco, California, finalized a host city agreement with the Golden Gate Yacht Club, which backs America's Cup defender BMW Oracle Racing. The agreement quickly was submitted to the Board of Supervisors, which must approve it. Six of the 11 supervisors are co-sponsors of the agreement.
The Board of Supervisors voted 9-2 on October 5 to approve a term sheet that was a precursor to a host city agreement. The city pledged in the term sheet to help raise US$270 million from corporate sponsors to help defray the costs of staging the regatta.
"I think this is more than significant," said Tom Ehman, a spokesman for the GGYC and member of its America's Cup Committee. "It's a big step forward for the 34th edition of the Cup. There can be no better venue for sailing than San Francisco Bay. Personally, I and the GGYC are very excited by the prospects and delighted with this latest development."
San Francisco's only competition is Italy. Valencia in Spain, which hosted the America's Cup in 2007 and in February, no longer is under consideration for the main regatta, Ehman said. However, the Spanish port could host a preliminary regatta.
Italy is in the mix because Club Nautico di Roma is the Challenger of Record, which represents the interests of all challengers.
A final decision from GGYC and BMW Oracle Racing is expected by the end of the year. BMW Oracle Racing is owned by software billionaire Larry Ellison, the CEO of Oracle Corp.
Ehman said GGYC was "pleasantly surprised" that six supervisors co-sponsored the agreement.
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