San Francisco Could Lose America's Cup

By Sajid Farooq
|  Tuesday, Dec 14, 2010  |  Updated 2:00 PM PDT
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San Francisco Could Lose America's Cup

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VALENCIA, SPAIN - FEBRUARY 14: Larry Ellison, owner of US challenger BMW Oracle Racing giant trimaran celebrates on the podium after the second race of the 33rd America's Cup off Valencia's coast on February 14, 2010 in Valencia, Spain. (Photo by Manuel Queimadelos Alonso/Getty Images) *** Local Caption *** Larry Ellison

San Francisco is expected to finally consumate its long lover affair with the America's Cup Tuesday but the sailing regatta may not return the admiration.

The City's Board of Supervisors are expected to approve a contract with the cup but problems with San Francisco's offers may still keep the race from being hosted in the bay.

Oracle CEO Larry Ellison controls the team that won the race and in turn gets a say in where the 2013 boating race will be held.

San Francisco Mayor Gavin Newsom has been courting Ellison and the cup to pick San Francisco for months.

For the longest time the City was seen as the front runner to net the race but reported demands for waterfront property and the right to develop Pier 50 are reportedly at issue for why San Francisco may lose the race.

At stake is the potential to attract up to $1 billion in revenue for the City. But the cost is still a lot for San Francisco. The City will grant developmental rights and leases of up to 75 years for some bay front property. And other cities, such as Rhode Island, after recently entered the race.

Race organizers have said they will pick a host city by Dec. 31.

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