SAN FRANCISCO (KCBS) — Despite issues which ran the gamut from the death of a sailor during a practice run to cheating scandals to financial shortfalls because of teams dropping out, San Francisco’s mayor said Wednesday he would welcome the America’s Cup event again.
Economists estimate the event will still fall far short of the $1 billion economic boon first predicted, but that the America’s Cup will still end up an economic success.
San Francisco Mayor Ed Lee spoke with KCBS in an interview ahead of Oracle Team USA’s defeat of Emirates Team New Zealand in the final race Wednesday to retain the America’s Cup.
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“I have to say unequivocally these races will help the city. We’ve got a million people that have come down to the various venues along the waterfront. I think the excitement is very high,” said Lee.