As the expected scale of the America’s Cup declines along with enthusiasm for the sailing event, San Francisco lawmakers are once again facing pressure from regatta organizers.
The Board of Supervisors is scheduled to vote Tuesday on a deal that would hand over nearly twice as much waterfront land and spend millions more taxpayer dollars on event-related costs than lawmakers agreed to when they approved a bid to host the regatta in late 2010.
“There's always some imminent deadline that's before us, almost like a gun to our heads,” said Supervisor John Avalos, who has called for more time to arrive at a “mutually agreeable” plan.
“The event authority feels very strongly they've compromised,” said Stephen Barclay, chief operating officer for the America’s Cup Event Authority, which is controlled by local billionaire Larry Ellison. “The event authority is not prepared to go any further.”
Four teams have begun building 72-foot catamarans for next year’s regatta. Event organizers have not indicated where the event would be staged if they were to walk away from San Francisco.
Source: Board of Supervisor's Budget Analyst Report on the Fiscal Impact of Hosting the 34th America's Cup.