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New Analysis Shows S.F. Lost $11.5M In Hosting The '13 America's Cup
Published February 11, 2014
BACK TO THE BAY? In S.F., Al Saracevic notes to bring the America's Cup back to the city in '17, Oracle Team USA CEO of Tactics Russell Coutts "wants the city to pony up the cost of the venues, the police security and the utility connections, just like last time." The city wants Oracle CEO Larry Ellison "to pay those expenses, thus reducing taxpayer exposure." Saracevic: "We'll let those discussions unfold at City Hall. But I wouldn't bet against Ellison." He "tends to win these things," and if he "doesn't, he'll take his sailboats and go play elsewhere." Hawaii and San Diego are "two top alternatives." But S.F. "should strike a fair deal with Coutts and his Oracle team." It might have "cost the city money, in terms of free rent and utility connections, but there was trickle-down economic impact throughout the city." If the Oracle team "acts on the lessons learned in 2013, it should be smoother sailing" (S.F. CHRONICLE, 2/11).