The 2013 event was not the spectacular success it was forecast to be. Bloomberg Sportfolio carried an informative piece on the San Francisco event (here). A 2010 report claimed that the event would generate a windfall of $1.4bn for the city, generate 900 jobs and rejuvenate the bay area. The optimism of the report proved misplaced. The number of competing team dropped to 4 from the estimated 15. The $100m promised by organisers to redevelop piers and boathouses was not forthcoming. The city’s taxpayers will have to pick up at least $22m of those costs.
The rules of the America’s Cup vests the winner of the competition with huge power over the next event. As winner of the 2013 event Larry Ellison has that power. With that power comes responsibility to the future of the competition. It will be interesting to see how he decides.