Although an official announcement has yet to be made, it seems Bermuda has got the nod over San Diego as host for the 2017 America’s Cup.
San Diego Tourism Authority CEO Joe Terzi said the city lost out because its bid was not ‘financially strong enough.’
"The America’s Cup rep said you guys worked hard, but we would have liked to have seen a more aggressive bid financially," Terzi told the San Diego Union Tribune newspaper.
"But when it came down to it, Bermuda was the destination Larry needed to choose."
As defending champion, billionaire Larry Ellison’s Oracle Team USA has final say in the choice of host.
Organizers had requested more than 17,000 free or discounted hotel room nights in San Diego, to accommodate corporate sponsors leading up to the event but his was turned down by the city’s tourism and marketing authority.
Former San Diego sailor Malin Burnham said the decision is purely for financial reasons.
"If you stack up Bermuda’s assets with San Diego, they don’t win on any direct comparison," Burnham, who sailed in the Americas Cup in San Diego in 1988.
"The question is: Why would you go to Bermuda? It has to be for financial purposes. Bermuda is known as a tax haven for rich people. Is that the connotation you want for the America’s Cup? If it goes to Bermuda, it’s going to a place for non-sailing objectives."
