CFAH

While San Francisco’s Board of Supervisors voted unanimously to back the Mayor’s revised, and a little less generous, bid to bring the America’s Cup to San Francisco in 2013, the voters that really matter seem to be balking as BMW Oracle Racing and the Golden Gate Yacht Club (GGYC) have reengaged Newport, Rhode Island in negotiations.

[Tom Ehman, a member of the America’s Cup committee and the Golden Gate Yacht Club board] acknowledged that negotiations with San Francisco leaders “have not gone as well as we [had] hoped,” leading organizers to reexamine sites that were initially in the running, including Newport.

The [R.I. Economic Development Corporation] had submitted an application for pre-regatta events leading up to the final races in 2013 that organizers found “impressive,” said Ehman. “Maybe it’s better than San Francisco’s.”

Then again, perhaps it’s for the better (if not the not), for as a plugged-in tipster writes:

The next America’s Cup, scheduled to be held in September, 2013 is in serious trouble.

No, it’s not that the GGYC has not picked a site to hold the races…It’s that the $1,300,000 entry fee as well as the “New” 72 foot Catamaran boat is not popular with possible challengers. Only 3 teams, plus Oracle/BMW and the Italian Challenger have entered the 34th America’s Cup, as of December 17, 2010.

This minimal interest, when the previous America’s Cups have [had] 10 to 12 challengers, puts the Advertising Budgets in jeopardy. Without advertising support, the challengers can’t fund their teams, the host cities cannot raise the funds to (1) host the races or (2) make the $100 million+ in infrastructure improvements or (3) potentially host future America’s Cup events.

Instead of being the 3rd most valuable event in World Wide television, behind the Olympic Games and World Cup, with so few participants the event could become a non-event.

Site selection for the 2013 race is expected to be announced by the end of this year. And now about those fundraising promises and pledges
San Francisco Board Of Supes Unanimously Back America’s Cup Bid [SocketSite]
Free Commercially Reasonable Rents For America’s Cup As Proposed [SocketSite]
America’s Cup says renewed R.I. talks not to force San Francisco to sweeten bid [pbn]
San Francisco’s America’s Cup Fundraising And Property Pledge [SocketSite]

Comments from Plugged-In Readers

  1. Posted by ivan

    I was in full support of bringing this event to sf but it may be a blessing if it goes elsewhere. do these billionaire brats realize they want concessions from a city that uses public funds to support our school systems, public transit, police/firefighters, and other social services that are critical to this city?

  2. Posted by Delancey

    Beginning to look like the winning city will gain an expensive lesson about “winner’s curse”. There’s no need to sweeten SF’s current offer at all.
    Installing a bunch of office complexes on the waterfront is a pretty sterile use of such a key area–that the butts at the desks will be sailing bureaucrats fails to impress me.

  3. Posted by Marten

    Valencia, Spain already got screwed. The race which was supposed to be multiple teams over many days, ended up being only two teams and two out of three races. If we lose it, we lose it.

  4. Posted by serenity now

    Maybe the race could go to Santa Clara with the 49ers?

  5. Posted by jamie

    Life goes on …

  6. Posted by Name

    PEACE OUT! I’d much rather see that land be developed by the Giants with a concert venue and condo/ office towers. Who cares about sailing? I would like to see the Olympics here before I die, however.

  7. Posted by EH

    Larry will remember that Gavin tried to give him part of the city, and Gavin will remind him of this in the future when Gavin wants a contribution or endorsement.

  8. Posted by J

    3rd most valuable TV event??
    Does anybody really believe that?
    I sail, I used to race, and I doubt I would watch this on TV.
    I guess all the subprime bond raters are now off certifying TV viewership numbers

  9. Posted by EH

    I haven’t seen a boat race on TV since John Candy was alive.

  10. Posted by ellbee

    To paraphrase Key Largo, “I know what Larry wants – Larry wants MORE.”

  11. Posted by willy

    Newport RI would be a much better place for the race anyway.

  12. Posted by Dan

    SF made a good offer. Now the ball is in America’s Cup’s court.
    The entry fee has been cut to $100,000:
    http://www.baycitizen.org/americas-cup/story/americas-cup-entry-fees-slashed/

  13. Posted by tommie

    Newport seems to me to be a natural place for it. Rather than SF trying to find a place for it to work, RI and Newport, are perfect for it. We have the Giants, they have the bay perfect for sailing. GO Giants repeat in 2011!!!!

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