San Francisco Slows Down the Drive for America's Cup

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    NEWSLETTERS

    The view from a dock near Pier 19 in San Francisco. Phan Tan on Flickr

    Mayor Gavin Newsom may want to host America's Cup but the rest of the City still needs convincing.

    The San Francisco Board of Supervisors Budget Committee said Wednesday it wants to see updated financial projections for the international sailing race.

    At the heart of the latest request in the quest to bring the cup to San Francisco, is a plan to host the main public facilities for the regatta on the City's waterfront between Piers 19 and 29.

    The original plan had the facilities on the other side of the Bay Bridge but city officials believe that shifting the facilities up the Embarcadero will help cut the cost for San Francisco.

    But the budget committee said it needs more information before it can vote on whether to approve the plan and move it to the full board for its approval.

    Newsom has been courting Oracle CEO Larry Ellison for months, whose team won the last race and gets to decide where the 2013 event will be held.