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SCUTTLEBUTT EXTRA - Friday, December 31, 2010

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AND THE ENVELOPE PLEASE....
(December 31, 2010) - San Francisco won the bidding to host the America's Cup in 2013, which will be sailed in fast catamarans with a backdrop of the Golden Gate Bridge, Alcatraz and Coit Tower.

Friday's announcement by the America's Cup Event Authority came after talks with San Francisco and Newport, R.I., went to the deadline for picking the venue for sailing's marquee regatta.

"We sought a venue that fulfills our promise - to showcase the best sailors in the world competing on the fastest boats," America's Cup Event Authority Chairman Richard Worth said in a statement. "And hosting the America's Cup in San Francisco will realize that promise."

San Francisco had the America's Cup all but secured in November. But Stephen Barclay, the lead negotiator for the Golden Gate Yacht Club, said the Port Commission changed the deal that had been negotiated and sent to the Board of Supervisors to begin the approval process.

After San Francisco was put on notice on Dec. 11 that its bid was unacceptable, America's Cup officials began negotiating with Newport.

Russell Coutts, a four-time America's Cup winner and CEO of BMW Oracle Racing, had telephone conversations with San Francisco Mayor Gavin Newsom before Christmas that may have helped swing the momentum back to the California city.

America's Cup organizers had expressed concern about taking on too much risk in developing a portion of the waterfront for the competition.

Newport officials gave a "superhuman effort" in talks, GGYC spokesman Tom Ehman said.

"Should there be any problem with San Francisco fulfilling their end of the deal, we'll be looking to Newport to jump in," Ehman told The Associated Press.

He said Newport likely will get a preliminary regatta during the buildup to the 2013 America's Cup.

San Francisco officials estimated hosting the America's Cup could be worth $1.4 billion in economic benefits and create 8,000 jobs.

BMW Oracle Racing, owned by software mogul Larry Ellison, won back the oldest trophy in international sports for the United States with a two-race sweep of Alinghi of Switzerland in February off Valencia.

The 2013 regatta will be contested in 72-foot, wing-sailed catamarans.

Story source: http://tinyurl.com/Forbes-123110

Additional story from the San Francisco Chronicle:
http://www.sfgate.com/cgi-bin/article.cgi?f=/c/a/2010/12/31/BAQ11H1QRE.DTL