America’s Cup News: San Francisco Named Host City for 2013

San Franciscans rang in the New Year celebrating the news that they were appointed to host the 34th America’s Cup.

The spectacle of the controversial 72′ wing-sail catamarans will be racing on their home turf – San Francisco Bay – against a backdrop of the Golden Gate Bridge and the downtown San Fran waterfront.

The announcement by the America’s Cup Event Authority gave the nod to the City by the Bay over 3 other finalists: Newport, Rhode Island, an unknown Italian city, and a second unidentified candidate, most likely Dubai.

“San Francisco Bay and its natural amphitheater is the best place on Earth to defend the America’s Cup and bring millions of new fans to sailing from around the world,” says Gavin Newsom, mayor of San Francisco.

Newport, Rhode Island, which threw its hat in the ring last month after talks between the Event Authority and San Francisco stalled, will get the consolation prize of one of the pre-America’s Cup Regattas scheduled for the Summer of 2011 in 45′ catamarans.

San Francisco, hometown of Larry Ellison, the billionaire software developer and winner of the 33rd Cup in Valencia, Spain, had been anointed from the start as the likely candidate to host the next Cup. Like many cities in the Untied States, however, San Fran is short on public funds, resulting in difficult negotiations with the America’s Cup Committee.

Still needing to be finalized, an agreement with San Fran gives Ellison’s Oracle 66-year leases and development rights for 3 piers on the bay and a seawall lot at the foot of Bryant Street, as well as development options on 2 more piers. In return, Oracle will invest $55-$80 million to refurbish the piers for the America’s Cup.

The city will incur $31 million in direct costs, and the event authority will have to raise at least $300 million from sponsors. The race village is expected to be on piers 19 and 29, the team bases at piers 30 and 32, and the public viewing area between piers 19 and 29.

The 34th America’s Cup starts with a series of pre-race regattas in 45′ cats at venues around the world in 2011 and 2012, followed by the challenger series in 72-footers in San Francisco in the Summer of 2013 and the Cup Match on the Bay in the 72-footers in September 2013.