San Francisco wins right to host America’s Cup

San Francisco Business Times

San Francisco will host the next America’s Cup, a coup for city officials who hope that luring sailing’s most prestigious event will pump more than $1 billion and 8,000 jobs into the region.

The city’s selection was announced Friday afternoon by America’s Cup organizers and San Francisco mayor Gavin Newsom following a day of speculation that San Francisco had been chosen as host city and that an announcement was imminent.

“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,” Newsom said.

A race schedule has yet to be finalized, but preliminary races could begin as early as this year, extending through 2012 and leading to a final in 2013. An official celebration of San Francisco’s selection as host city has been scheduled for Jan. 5, with the time and place to be announced.

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