Monday, April 5, 2010

Nice Ink - The Wall Street Journal

Ben Worthen of the Wall Street Journal writes about the efforts San Francisco is making to secure the venue for the 34th America's Cup.

In the past several weeks, representatives from BMW Oracle Racing, the yacht club and the city have been working together to bring the regatta to San Francisco, say people close to the talks. San Francisco Mayor Gavin Newsom met privately with Mr. Ellison soon after his team won the Cup, says Michael Cohen, director of San Francisco's Office of Economic and Workforce Development and the city's point person on the Cup effort.

Over the last month, representatives from the city and the team also have held several meetings and toured potential sites together. They have had numerous conference calls and exchanged other information in an effort to bring the Cup here, says Mr. Cohen...

...Hosting the Cup could prove a financial windfall for San Francisco. Tom Cannon, a professor of strategic development at Britain's University of Liverpool who performed an economic analysis in 2007 of what hosting the Cup would mean for San Francisco, estimates that the event ultimately could contribute up to $6 billion to San Francisco's economy through improved infrastructure, tourism and new businesses that would be created by the Cup.

See the full story here.