The America's Cup

Last year, when San Francisco won the bid to host the 2013 America’s Cup, supporters saw it as a chance to revitalize the city’s crumbling waterfront. Now, there are concerns that fundraising for this major international event is not proceeding quickly enough, and taxpayers could be left on the hook. What are the potential costs and benefits?

Mark Buell, chair of the America's Cup Organizing Committee
Michael Martin, America's Cup project director in San Francisco's Office of Economic and Workforce Development
Aaron Peskin, chair of the San Francisco Democratic Party and former president of the San Francisco Board of Supervisors
David Chiu, president of the San Francisco Board of Supervisors and supervisor for District 3
Joe Eskenazi, staff writer for SF Weekly and author of this week's cover story on the America's Cup

  • Eric

    There are essentially 2 types of capitalists: “win-win” capitalists, in which both parties to a transaction are better off as a result of the transaction vs. “win-lose” capitalists, in which one person’s gain is someone else’s loss.  I can understand why people who are skeptical about the America’s Cup deal don’t think the event will make S.F. better off, Larry Ellison does not seem like a “win win” capitalist.

  • guest

    Why is KQED giving Larry Ellison free advertising for his America’s Cup project?

    • Tim

       Educate.  They open your mouth.  Not the other way around please.

      • Tim

         ^ then, not they

    • guest

      So, what does the non-profit ACOC do with the funding it raises?   Well, it funnels it to Larry Ellison’s private management team, the America’s Cup Event Authority.  The ACEA is the vehicle through which the One Percenters pocket financial rights to a large chunk of San Francisco’s extremely lucrative waterfront properties.    In return for Ellison’s chump-change makeover of some of the waterfront for his event, according to the San Francisco Chronicle, the latest version of the Host City Agreement gives the ACEA Seawall Lot 330 and “the rights to leases of at least 10 years and rent credit on four piers depending on the money it spends improving port infrastructure.”

      • guest

        You mean the “extremely lucrative waterfront” that SF has done NOTHING with for so many years that it just sits there decaying generating no jobs or tax $$$? just a huge eye sore especially when viewed from the water.
        If Larry Ellison was not involved, would all the haters go away? No some would still be whining about “development”
        If SF does not want the AC, then just say NO & stop jerking everybody around. There are other cities (foreign countries too including China) that would be very happy to make a deal & benefit from all the infrastructure, team spending and tourism $$$.
        SF Bay is a unique sailing venue that already profits from many sailing events during the year which probably 99% of the citizens have no clue goes on. The AC is a global event that are actually 2 large events – the Challenger series then the AC……this sort of event cannot be ignored.
        SF/CA is living  up to its reputation as an extremely difficult place to get anything done.

  • Mark

    This 60 min. event totally missed the opportunity to articulate why/how Corporate Sponsorship (Global 100) should participate.  Looks like we keep our money in our pockets for now.

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