san francisco – Page 5 – stephenlirakis.com

IT’S SAN FRANCISCO

The announcement came a short time ago from the Golden Gate Yacht Club; San Francisco will host the next America’s Cup.

Wishing one and all a safe, happy and healthy new year

America’s Cup organizers confirm San Francisco has won bid for race

pastedGraphic.pdf San Francisco has won the hard-fought bid to host sailing’s most prestigious race, the America’s Cup, the yacht race organizers have announced. (Getty Images file photo)

San Francisco has won the hard-fought bid to host sailing’s most prestigious race, the America’s Cup, the yacht race organizers have announced.

The announcement that San Francisco ‘s proposal topped other interested locations, such as Rhode Island and Italy, came after months of negotiations that included debates over tax breaks, land rights and the future development of San Francisco’s piers.

Billionaire Larry Ellison’s team, BMW-Oracle Racing which is based at the Golden Gate Yacht Club, won the last America’s Cup race in February. With the cup came the right to determine all of the specifics for the next race, expected to be held in 2013, including the location.

Though race organizers had been in discussions recently with Rhode Island over an alternate, it became increasingly clear in recent days that San Francisco would win the opportunity to host, as Rhode Island officials said they would not be able to endorse a bid in time for the team’s self-imposed Dec. 31 deadline.

The race could draw hundreds of thousands of people to the Bay Area to watch the international race, which lays claim to the oldest trophy in modern sports. Some economic analyses have estimated the race could bring the Bay Area over $1 billion in tourism and team-related money.

Mayor Gavin Newsom, whose staff worked through the winter holidays to negotiate the final details of the bid, said the selection represents a “tremendous opportunity to showcase sailing in the magnificent amphitheater of San Francisco Bay.”

“The selection of San Francisco today to host the 34^th America’s Cup marks the beginning of an extraordinary new chapter for our city and for the sport of sailing,” he said in an emailed statement.

Though sources close to the negotiations had confirmed to the San Francisco Examiner that the bid was a done deal early in the day, America’s Cup officials waited until late afternoon on New Years Eve to break the news officially.

“We sought a venue that fulfills our promise – to showcase the best sailors in the world competing on the fastest boats,” said Richard Worth, Chairman of America’s Cup Event Authority in an emailed statement. “And hosting the America’s Cup in San Francisco will realize that promise.“

The deal to bring the cup to San Francisco will likely make Ellison an even richer man, as The City has offered his team long-term development rights to acres of waterfront property, in exchange for bringing the race to the San Francisco Bay. Though Ellision’s team must make an initial investment into the waterfront, The City will pay that investment back in the form of free rent for decades.

San Francisco has also offered Ellison millions in city services to support the 2013 race.

kworth@sfexaminer.com

DEADLINE LOOMING

Newport still craving the America’s Cup. However have just announced that they are not ready to meet the deadline of December 31, 2010

What are the REAL numbers for economic impact of the America’s Cup on a city? Valencia built a waterfront/America’s Cup venue that should be the envy of the sailing world. Where are they now?

America’s Cup campaigns have exhibited a feeling that nothing can ever be good enough. I can remember a time when a crew shirt was about all you got when sailing on an America’s Cup boat.

San Francisco presented a very thorough study and Alameda has indicated that the city is ready willing and able to help San Francisco in it’s effort to secure the races.

ECONOMIC DEVELOPMENT

Newport estimates impact of hosting 2013 America’s Cup at $1.1 billion

By William Hamilton

PBN Staff Writer

Twitter: @waham

?(Updated, 3:30 p.m.)

NEWPORT – A new study estimates the impact of hosting the 2013 America’s Cup finals to be $1.1 billion for Rhode Island, with the international event spurring the creation of 7,867 jobs.

The study, commissioned by the Newport County Chamber of Commerce and released Wednesday, paints a picture of an America’s Cup event that could have far-reaching effects on the region, with racing syndicates, super yachts and wealthy tourists descending on the Ocean State.

The 17-page report, assembled by Providence-based accounting firm Kahn, Litwin, Renza & Co. Ltd, projects that every hotel room within a 50-mile radius of Newport would be rented leading up to the finals.

Sailing spectators would visit other local tourist destinations during the down times between races, the report said.

“It is not unreasonable to expect visitors to drive over to Point Judith or Narragansett, visit the vineyards, or even run into the Providence Place mall for some shopping and finish with dinner on Atwells Avenue,” it said.

The 7,867 new jobs would be distributed among several sectors, including lodging, restaurant, retail, transportation and entertainment, the study said.

America’s Cup organizers are considering holding the 2013 races in Newport as negotiations with the San Francisco leaders have sputtered. Race officials have said they want to announce the race site by Friday.

Following the release of the report Wednesday, Gov.-elect Lincoln D. Chafee said in a statement that the America’s Cup would a “tremendous shot in the arm” and that he had been communicating with race officials and the R.I. Economic Development Corporation through the holiday weekend.

But he added that he wanted to see cost estimates and “other appropriate diligence” before developing a position and course of action.

Meanwhile, the San Francisco Chronicle reported Wednesday officials in that city feel more confident that San Francisco is back in serious contention as the race site.

Sailing’s most prestigious race was last contested in Newport in 1983 when the New York Yacht Club lost the Cup to an Australian syndicate, ending a streak of victories dating back to 1851.

In developing its economic estimates, Kahn, Litwin, Renza & Co. said it only considered the three-month period surrounding the race finals, not the series of regattas that will be held ahead of the main event.

The report estimated the economic impact from direct race participants – the teams, sponsors, super yachts and race management – to be $499.7 million and $849.3 million factoring in a “multiplier effect.”

The impact from tourism is projected to be $122.1 million and $225.1 million when considering a multiplier effect.

The races would boost Rhode Island’s tax revenues by an estimated $18.9 million.

But the event would also require improvements at Fort Adams State Park, which organizers would like to use as a hub for race activities. The historic fort overlooks the East Passage of Narragansett Bay and Newport Harbor.

The study said the work would cost the state $33.2 million – $23.2 million for renovations in the fort and another $10 million for work along the waterfront outside the fort, including dock installation.

“These are improvements that have a long-term benefit, as an improved state park will likely attract other events in the future,” the report said. “However, the dollars need to be spent now.”

The EDC has hired a design and engineering team that includes the Louis Berger Group, Newport Collaborative Architects Inc. and Gates, Leighton & Associates to develop plans and cost estimates.

EDC Executive Director Keith Stokes has acknowledged that complete cost estimates and identification of funding sources won’t be ready before the Friday deadline, but he hoped race organizers would give Newport a conditional approval.

BMW PULLS OUT OF THE AMERICA’S CUP/ SAN FRANCISCO STILL WANTS THE RACES

The following is written by James Boyd

At the end of the year BMW will bring to a close its longstanding partnership with Oracle Racing and thereby end its involvement in the America’s Cup. This is by mutual agreement of both partners. Both parties set ambitious goals and achieved the ultimate objective: winning the America’s Cup.

BMW has partnered BMW Oracle Racing since 2002. Technology and skills have transferred freely between the automaker and sailing team, most notably in the fields of structural engineering and high-modulus composite construction. The result was celebrated in the February when the team’s wing sail trimaran USA 17, the fastest yacht in the history of the America’s Cup, won the 33rd Match with a 2:0 victory off Valencia, Spain.

“On the design and engineering front, BMW engineers set new benchmarks in terms of intelligent lightweight design,” said Ralf Hussmann, General Manager BMW Sports Marketing and Brand Cooperation. “In winning the 33rd America’s Cup, we achieved all of our ambitious goals. We will continue to be involved in the sport on a national level.”

“The America’s Cup combines a technological challenge with a sporting one and success is measured by the result on the race course,” added Russell Coutts CEO of BMW Oracle Racing “In that sense, both the team and BMW are proud that our collaboration resulted in victory.”

“WE ARE IN THE RED ZONE”

San Francisco Mayor Gavin Newsom is working around the clock in a last-ditch

effort to keep the city’s bid for the America’s Cup alive – even as Larry

Ellison openly courts Newport, R.I. “We are in the red zone,” Newsom said

Tuesday evening. San Francisco’s bid for the 2012 race took a sudden dive

last week when Team Ellison began talking very publicly with Newport about

holding the race there.

“I would like to believe that our deal was not used as a negotiating

strategy to leverage a deal in Rhode Island,” said Supervisor Ross

Mirkarimi, a key backer of San Francisco’s bid. That’s exactly what is

happening, however. Although everyone is trying to keep on the high road,

the folks at City Hall are anything but smiles as they try to deal with

Ellison’s group.

According to Newsom, the negotiations are not over what piers to use or how

much public money to spend, but rather about tax increment financing and

other financial details. “This is a billion-dollar economics package, with

thousands of jobs and a big investment by their organization. I can

understand their need for certainty,” Newsom said.

“I’ve been on the phone steadily for the past five days,” the mayor said.

“The one thing we can’t afford to do is get petulant and throw up our hands

or start pointing fingers.” Besides, there will be plenty of time for that

if Ellison raises the anchor and heads east. — SF Chronicle,

http://tinyurl.com/SFC-122210

METAPHORS: San Francisco supporters should be concerned about Newsom’s

comment of being “in the red zone.” This phrase, which references a football

team’s ability to score inside the 20 yard line, has not been a strength of

his town’s team. As of December 23rd, the San Francisco 49ers ranked 23rd

out of 32 NFL teams in red zone scoring percentage. As for Newport, which

typically cheers for the New England Patriots, their team is ranked third

overall.

MORE NEWSOM: “They (GGYC) seemed dissatisfied with some key components of

our bid,” said Newsom. “We’ve been working aggressively behind the scenes to

address those concerns.” Newsom would not say what specifically changed, but

the Board of Supervisors has given the Mayor’s Office the power to make

amendments as long as the major components of the agreement remain intact.

— SF Examiner: http://tinyurl.com/SFE-122210

RHODE ISLAND RALLY: Supporter came out for a Rally to Host the 2013

America’s Cup on Wednesday morning at the Marriott in Newport, RI, where

Sail Newport Executive Director Brad Read encouraged the crowd to embrace

this opportunity. “We believe in Narragansett Bay as the premier tourist

attraction that Rhode Island has,” said Read. “We want to make sure that we

run the best events, the most worldwide recognizable events that we can. I

think Narragansett Bay is the perfect backdrop for the America’s Cup.” Watch

video from the event here: http://www.youtube.com/watch?v=gF2drHLbkSQ

MORE READ: Sailing World magazine’s Stuart Streuli caught up with Brad after

the rally to grill him on the details. Here is the interview:

http://tinyurl.com/SW-122210

TICK TOCK: The America’s Cup defender Golden Gate Yacht Club is required by

the Protocol for the 34th America’s Cup to declare the venue location by

December 31st. While there are provisions to amend the Protocol so as to

extend this deadline, it would not be a popular move. GGYC is already

considered to have a technical advantage, thus challenging teams are eager

to focus their design strategy on the selected venue. Additionally, the

selected venue will determine whether prospective challengers can seek

suitable sponsorship for them to enter the event. —

http://tinyurl.com/AC-122210