Related News
San Francisco stays on track in effort to host race
Source: Agencies |
December 16, 2010, Thursday
|
Print Edition
Print Edition
FACING a Friday deadline for a completed deal, San Francisco officials on Tuesday approved an agreement needed to keep alive their bid to host the 2013 America's Cup.
The Board of Supervisors voted 11-0 to adopt a Host City Agreement that included changes sought by America's Cup organizers, who say they would have taken on too much of a financial burden.
Mayor Gavin Newsom signed the resolution a few hours later.
However, America's Cup officials had yet to review the document.
"This resolution now enables the city to be on track to provide us with a signed agreement by Friday," Stephen Barclay, an official with the Golden Gate Yacht Club and America's Cup champion BMW Oracle Racing, said in a statement.
"We also appreciated the opportunity to work with the city and port officials prior to today's vote and will now closely review the agreement changes that went before the board," Barclay said.
"We've seen good progress, so now we will study the details. We continue to be focused on our responsibility to secure an agreement that enables us to run a world-class event whilst ensuring the America's Cup Event Authority is not put at financial risk."
The agreement would allow organizers to use several piers north of the Bay Bridge to stage the competition for the oldest trophy in international sports.
Barclay said on Saturday that he considered San Francisco to have come up with the winning bid in early November, when city officials and the yacht club negotiated an agreement that was then sent to the Board of Supervisors to begin the approval process. But he said the Port Commission recently changed key points in the agreement that would put too much of a financial risk on the America's Cup Event Authority, which has been contracted by the GGYC to run the regatta.
City officials said that the changes in the agreement strengthen organizers' guarantees and reduce risks.
Barclay said the GGYC set the Friday deadline because the America's Cup Event Authority is committed to informing participating teams of the venue choice by December 31.
The Board of Supervisors voted 11-0 to adopt a Host City Agreement that included changes sought by America's Cup organizers, who say they would have taken on too much of a financial burden.
Mayor Gavin Newsom signed the resolution a few hours later.
However, America's Cup officials had yet to review the document.
"This resolution now enables the city to be on track to provide us with a signed agreement by Friday," Stephen Barclay, an official with the Golden Gate Yacht Club and America's Cup champion BMW Oracle Racing, said in a statement.
"We also appreciated the opportunity to work with the city and port officials prior to today's vote and will now closely review the agreement changes that went before the board," Barclay said.
"We've seen good progress, so now we will study the details. We continue to be focused on our responsibility to secure an agreement that enables us to run a world-class event whilst ensuring the America's Cup Event Authority is not put at financial risk."
The agreement would allow organizers to use several piers north of the Bay Bridge to stage the competition for the oldest trophy in international sports.
Barclay said on Saturday that he considered San Francisco to have come up with the winning bid in early November, when city officials and the yacht club negotiated an agreement that was then sent to the Board of Supervisors to begin the approval process. But he said the Port Commission recently changed key points in the agreement that would put too much of a financial risk on the America's Cup Event Authority, which has been contracted by the GGYC to run the regatta.
City officials said that the changes in the agreement strengthen organizers' guarantees and reduce risks.
Barclay said the GGYC set the Friday deadline because the America's Cup Event Authority is committed to informing participating teams of the venue choice by December 31.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
