San Francisco's bid to get the America's Cup race is in troubled waters.
Race officials announced late Monday they are negotiating with Newport, R.I.
Tom Ehman told AP that Newport could be "an inexpensive and very, very good" alternative if San Francisco doesn't pan out.
Things got rocky over the weekend when the Golden Gate Yacht Club wrote a letter to San Francisco Mayor Gavin Newsom that said the City would lose the right to host in 2013 unless a deal is signed by Friday. The club gets to make that call because they sponsored Larry Ellison in his winning race earlier this year.
There is a Board of Supervisors vote scheduled on the City's bid Tuesday so things could still come together. Supporters claim the race would bring $1.4 billion in economic benefits to the region.
America's Cup official Stephen Barclay said last month that he thought San Francisco had "the winning bid," but has changed his mind after the Port Commission changed some things, including which group takes the higher financial risk.
The next America's Cup is scheduled for 2013.