America's Cup Fundraising Woes

Hitting Rough Waters

Thursday, Feb 9, 2012  |  Updated 7:20 AM PDT
View Comments (
)
|
Email
|
Print
America's Cup Cash Falling Short

Vido Di Stefano

San Diego got a taste of the America's Cup preliminary racing in July 2011.

advertisement

Fundraising to pay for the upcoming America’s Cup is behind schedule.

The plan was to have $12 million in cash last week to help cover San Francisco's costs in hosting the renowned sailing race.

According to SF Gate, while the committee does have written pledges or agreements totaling that amount, they have only collected $800,000 of that money. The rest of the money is promised from wealthy donors.

The committee needs to kick efforts into high gear to meet the target of $32 million over three years outlined in the initial December 2010 deal between the city, the then-newly formed organizing committee and the event authority.

Exhibition races are scheduled to kick off in August, followed by the finals in September 2013.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
Bay Area Proud
Bay Area Proud is NBC Bay... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out