San Francisco’s pitch to host the 2013 America’s Cup now includes a promise “to raise at least $270 million from businesses and other sponsors” as well as “helping event participants to secure drivers licenses, trying to obtain federal legislation to allow foreign-flagged vessels for the event to stop in more than one U.S. port, and promoting the premier regatta with publicly controlled advertising space.”
No word on what happens, or who’s on the hook, if fundraising efforts fall short.
And once again, “Mayor Gavin Newsom’s administration is proposing the free use of Port of San Francisco property stretching south of the Bay Bridge from Pier 28 to Pier 50 and a rent-free lease of 66 to 75 years and future development rights for Piers 30-32, an adjacent parking lot and Pier 50″ in a bid to secure the race.
∙ The Pitch To Sail The America’s Cup Into San Francisco’s Bay [SocketSite]
∙ S.F. promises money, land for America’s Cup [SFGate]