America's Cup

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San Francisco Wants More America's Cup

City aims to host next edition of famous yacht race

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    NEWSLETTERS

    Getty Images
    America's Cup file image.

    More Cup, please.

    Fresh from hosting the stage for America's Cup -- won in dramatic style by hometown hero Larry Ellison's Oracle Team USA -- San Francisco is making its intentions for a repeat showing known, according to the San Francisco Chronicle.

    Mayor Ed Lee is an "unabashed" fan of the Cup -- the racing and the crowds -- but the city has also "learned the lessons" necessary to make sure the city doesn't lose money the second time around, the newspaper reported.

    The city tried to raise $22 million from private donors to cover some costs but could only find $9 million, the newspaper reported. A long-term development deal for Piers 30-32 -- which would have exclusively been Ellison's -- also fell through.

    So for the 2017 race, the deals will be different -- and quite possibly not as sweet as the ones that lured Ellison here before. Of course, that's assuming Ellison settles on the San Francisco Bay as the venue for the event.

    The Bay Area Council says that the Cup produced $550 million in "economic activity" for the area, and $5.7 million in taxes for San Francisco.