Mayor and Supervisors Introduce Agreement to Host America's Cup in San Francisco
San Francisco – Mayor Gavin Newsom, Board of Supervisors President David Chiu, Supervisor Ross Mirkarimi and other members of the Board of Supervisors today introduced the formal agreement to host the 34th America’s Cup in San Francisco. The purpose of the agreement, or term sheet, is to set forth essential terms and conditions agreed upon by the America’s Cup Committee of the Golden Gate Yacht Club and the City of San Francisco with the Protocol for the 34th America’s Cup. If San Francisco is selected to host the 34th America’s Cup, the term sheet provides a framework for promptly negotiating a legally binding Host City Agreement and establishing the terms and conditions under which the San Francisco would be prepared to host the America’s Cup event, subject to all necessary approvals and environmental review required by the California Environmental Quality Act (CEQA). In addition to Mayor Newsom, Board of Supervisors President Chiu and Supervisor Mirkarimi, the agreement was also initially co-sponsored by Supervisors Michela Alioto-Pier, Carmen Chu, Bevan Dufty, and Sophie Maxwell.
“We believe there’s no better place on earth than San Francisco Bay to defend the America’s Cup and bring millions of new fans from around the world to the oldest international sailing competition,” said Mayor Newsom. “This agreement establishes the strong partnership between the City, the BMW Oracle Racing Team and the entire community if San Francisco is fortunate to be selected as the Host City for the 34th America’s Cup. The entire City and State of California are united behind bringing the America’s Cup – and all the economic benefits, jobs and excitement that come with it – to San Francisco.” Read more.