The America's Cup rip-off - Page 2

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Multibillionaire Larry Ellison captured the 33rd America's Cup -- but what's in it for SF if he brings the next race back home?

We'd like to know a lot more about what Ellison's development plans are. We'd like to know who, exactly, will be running his new corporation that will get development rights for a couple of nice waterfront parcels.

But before the supervisors sign off on any deal, they need to set a bottom line: this can't cost the city any net revenue. The San Francisco city treasury and local taxpayers shouldn't be subsidizing an event created by and for the very wealthy.

 

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