SAN FRANCISCO (KCBS) – San Francisco supervisors have offered a formal bid for the city to host the next America’s Cup sailing race in 2013.

The ambitious plan would commit San Francisco to raising almost $300 million from private sponsors. There’s also a swap of waterfront land rights in return for infrastructure improvements.

The bid to host the prestigious sailing regatta match was finalized at a meeting of the city’s Board of Supervisors.  “This is not just San Francisco’s bid, it’s not just the Bay Area’s or California’s bid, it is America’s bid to host the America’s Cup,” said Supervisor David Chiu.

Kyri McClellan, point person for Mayor Newsom on the bid, says San Francisco will be competitive.

”We have ticked the box on facilities, we have addressed how we will attain the corporate sponsorships necessary, and we have built an incredibly robust America’s Cup organization committee,” said McClellan.

The decision on the host city will be made by the current holder of the America’s Cup, Larry Ellison’s BMW Oracle Race team, which belongs to San Francisco’s Golden Gate Yacht Club.

The next host city should be chosen by the end of the year.  Two European cities are also in the running.

(© 2010 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)


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