It’s down to the wire for decision on America’s Cup

After months of debate and tense negotiations, San Francisco is expected to learn by Friday if it will host the 34th America’s Cup race in 2013.

The City unanimously approved a proposed host agreement bid Tuesday, which was quickly signed by Mayor Gavin Newsom. San Francisco now awaits word on whether the terms are acceptable to billionaire Oracle CEO Larry Ellison’s BMW Oracle Racing team, sponsored by San Francisco’s Golden Gate Yacht Club.

Ellison’s team, having won the cup in February, chooses who will host the event in 2013.

“This bid is as good as we could provide. We’ll know shortly,” Newsom said. “If they say, ‘Nope,’ I don’t think we can point any fingers at each other. I don’t think anyone would be to be blame.”

The team has said it wants an agreement by Friday, and a decision on whether San Francisco will host the sailing race is expected by then.

The City approved an agreement for a northern waterfront location, abandoning the more central waterfront location, which had proven too costly for The City. Team members expressed a preference for the initial proposal as late as Monday.

The City and the team discussed the agreement into Monday night and again on Tuesday morning.

“This is not just the best bid for The City but the best bid internationally for the America’s Cup,” said Board of Supervisors President David Chiu.

The event is projected to inject at least $1.2 billion into the local economy and create nearly 9,000 jobs.

The agreement includes the team investing $55 million in piers 30-32, 27 and 29, which are all port facilities. In exchange, The City will grant long-term development rights to Piers 30-32 and Seawall Lot 330 to the agency that puts on the race, as well as an option for Piers 26 and 28 with an additional $25 million investment.

The agreement removes from the terms the development rights for Pier 50.  

jsabatini@sfexaminer.com

Bay Area NewsGavin NewsomGovernment & PoliticsLocalPoliticsSan Francisco

If you find our journalism valuable and relevant, please consider joining our Examiner membership program.
Find out more at www.sfexaminer.com/join/

Just Posted

Lakeshore Elementary School was closed in March shortly before SFUSD closed all schools due to coronavirus concerns. The district is now working to prepare all elementary schools to reopen by mid-January.<ins> (Kevin N. Hume/S.F. Examiner)</ins>
School district preparing buildings for hybrid learning

SFUSD plans to use 72 elementary schools and 12 early education sites for first phase of reopening

There have been at least 142 confirmed cases of COVID-19 among workers at San Francisco International Airport. <ins>(Kevin N. Hume/S.F. Examiner)</ins>
Supes back SFO worker healthcare legislation despite airline, business opposition

Costs of ‘Health Airport Ordinance’ in dispute, with estimates ranging from $8.4 M to $163 M annually

Thankfully, playgrounds that were closed due to the pandemic during the summer have reopened.<ins> (Kevin N. Hume/S.F. Examiner)</ins>
The perils of parenting, COVID-style

At long last, it’s OK to take your little one out to play

Ten candidates are running for a seat on the Board of Trustees of the San Francisco Community College District.. (Courtesy photos)
Strong leadership needed as City College faces multiple crises

Ten candidates vying for four seats on CCSF board

City officials closed San Francisco County Jail No. 4 on the top floor of the Hall of Justice at 850 Bryant St. in September, reducing the number of beds in the jail system by about 400. 
Kevin N. Hume/
S.F. Examiner
SF jail closure prompts doctor to call for release of more inmates

Reduced space increases risk of COVID-19 spreading among those in custody

Most Read