8:23 PM
truedimension
Source: ABS-CBNNEWS.COM
SAN FRANCISCO - San Francisco will be the site of the 2013 America's Cup, officials said on Friday, with a Silicon Valley billionaire giving the "City by the Bay" its first chance to host sailing's biggest event.
"We sought a venue that fulfills our promise -- to showcase the best sailors in the world competing on the fastest boats," Richard Worth, chairman of the America's Cup Event Authority, said in a statement.
"And hosting the America's Cup in San Francisco will realise that promise."
The decision on where to stage the 34th Cup was ultimately up to Larry Ellison, chief executive of software company Oracle Corp , whose BMW Oracle team won the event in races off Valencia, Spain, in February 2010.
The America's Cup winners are allowed to determine the next location and Ellison, whose company is based 25 miles (40 km) south of San Francisco, sails for the city's Golden Gate Yacht Club.
"The selection of San Francisco today to host the 34th America's Cup marks the beginning of an extraordinary new chapter for our city and for the sport of sailing," Mayor Gavin Newsom said in a statement.
"Together, San Francisco and the Oracle racing team have seized a tremendous opportunity to showcase sailing in the magnificent amphitheatre of San Francisco Bay, provide jobs and a more than $1 billion boost to our City's economy and transform the America's Cup experience."
Racing will be held in the picturesque San Francisco Bay and will be visible from renowned landmarks such as the Golden Gate Bridge, Crissy Field, the Embarcadero and Fisherman's Wharf.
"My support for San Francisco hosting the America's Cup goes beyond the opportunity to see our team competing on home waters," said Russell Coutts, chief executive of the Oracle racing team.
"We are excited to sail for our sport's greatest trophy, on a stretch of water legendary among sailors worldwide."
'Natural amphitheater'
Ellison has lauded San Francisco Bay as a "natural amphitheatre" for spectators to view the races, in contrast to events that have been sailed far offshore, and as a place where the winds would be predictable.
While the Oracle founder had also acknowledged the challenge of "red tape" in getting the necessary infrastructure built in San Francisco, he joked that the city's hosting of the race would make his commuting easier.
Newsom had pitched San Francisco Bay as a scenic venue, but it was not all smooth sailing for the bid.
Earlier this month, the mayor was forced to resolve concerns among race organisers over property development rights in the hosting plan.
"The strength of San Francisco's bid and the enormous benefits it will provide to the city and to the team are the result of months of hard work, negotiations and overwhelming support from throughout the city and state," Newsom said.
"San Francisco truly came together to support this bid."
A city-commissioned study found that hosting the Cup could generate $1.4 billion in economic activity and some 9,000 jobs for San Francisco and the surrounding region. The city vied against Newport, Rhode Island, where the race was contested from 1930 to 1983, and an undisclosed location in Italy.
However, Newport's bid stumbled when officials there said this week they could not make a final offer in time for the deadline set by race organisers.
Founded in 1851, the America's Cup bills itself as the oldest active trophy in international sport.
German automaker BMW , which backed the Oracle America's Cup team for nine years, has ended its sponsorship.
"We sought a venue that fulfills our promise -- to showcase the best sailors in the world competing on the fastest boats," Richard Worth, chairman of the America's Cup Event Authority, said in a statement.
"And hosting the America's Cup in San Francisco will realise that promise."
The decision on where to stage the 34th Cup was ultimately up to Larry Ellison, chief executive of software company Oracle Corp , whose BMW Oracle team won the event in races off Valencia, Spain, in February 2010.
The America's Cup winners are allowed to determine the next location and Ellison, whose company is based 25 miles (40 km) south of San Francisco, sails for the city's Golden Gate Yacht Club.
"The selection of San Francisco today to host the 34th America's Cup marks the beginning of an extraordinary new chapter for our city and for the sport of sailing," Mayor Gavin Newsom said in a statement.
"Together, San Francisco and the Oracle racing team have seized a tremendous opportunity to showcase sailing in the magnificent amphitheatre of San Francisco Bay, provide jobs and a more than $1 billion boost to our City's economy and transform the America's Cup experience."
Racing will be held in the picturesque San Francisco Bay and will be visible from renowned landmarks such as the Golden Gate Bridge, Crissy Field, the Embarcadero and Fisherman's Wharf.
"My support for San Francisco hosting the America's Cup goes beyond the opportunity to see our team competing on home waters," said Russell Coutts, chief executive of the Oracle racing team.
"We are excited to sail for our sport's greatest trophy, on a stretch of water legendary among sailors worldwide."
'Natural amphitheater'
Ellison has lauded San Francisco Bay as a "natural amphitheatre" for spectators to view the races, in contrast to events that have been sailed far offshore, and as a place where the winds would be predictable.
While the Oracle founder had also acknowledged the challenge of "red tape" in getting the necessary infrastructure built in San Francisco, he joked that the city's hosting of the race would make his commuting easier.
Newsom had pitched San Francisco Bay as a scenic venue, but it was not all smooth sailing for the bid.
Earlier this month, the mayor was forced to resolve concerns among race organisers over property development rights in the hosting plan.
"The strength of San Francisco's bid and the enormous benefits it will provide to the city and to the team are the result of months of hard work, negotiations and overwhelming support from throughout the city and state," Newsom said.
"San Francisco truly came together to support this bid."
A city-commissioned study found that hosting the Cup could generate $1.4 billion in economic activity and some 9,000 jobs for San Francisco and the surrounding region. The city vied against Newport, Rhode Island, where the race was contested from 1930 to 1983, and an undisclosed location in Italy.
However, Newport's bid stumbled when officials there said this week they could not make a final offer in time for the deadline set by race organisers.
Founded in 1851, the America's Cup bills itself as the oldest active trophy in international sport.
German automaker BMW , which backed the Oracle America's Cup team for nine years, has ended its sponsorship.
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