Bid for AmCup needs $270M in sponsorships
Supporters of San Francisco’s bid to host the next America’s Cup pledged to raise $270 million in sponsorship to cover the costs of the regatta if the event is held on the bay.
Under a term sheet submitted to the city’s Board of Supervisors on Tuesday, bid backers said they expect to raise that amount after holding conversations with Bay Area-based corporations like Visa Inc., Wells Fargo & Co., URS Corp., PG&E Corp. and Google Inc. as well as companies elsewhere across the country.
