Ellison Is Willing to Bring the Cup Home for a Price

Thursday, Dec 2, 2010  |  Updated 3:30 PM PDT
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Ellison Is Willing to Bring the Cup Home for a Price

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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

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Larry Ellison did not become one of the richest men on the planet by doing anything for free. Did San Francisco expect anything different from him?

As the City tries to lure the Oracle CEO to choose San Francisco as the host city for the America's Cup yachting competition.

Ellison's sailing group gets a say in where the next America's Cup will be held after winning the trophy.

Mayor Gavin Newsom has been working for months to convince Ellison to choose San Francisco and a deal looks like it could happen. But the shrewd businessman is making some demands to give San Francisco the cup.

In exchange for financing and operating the race in 2013, Ellison wants control of waterfront real estate rent free and he wants rights to pier and parking lots near AT&T Park.

The request may not go over so well with San Franciscans. Already outgoing supervisor Chris Daly has taken notice of the news.

"Larry Ellison ain't pretty. Let's lawyer up!" He wrote on his Facebook wall, with a link to the announcement.

The City's Budget and Finance committee was scheduled to review a report this week that the race could cost San Francisco $128 million. Of course, that could be offset by the economic shot in the arm that would be provided by construction, concessions and tourism.

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