Read the book Billionaire and Mechanic
to understand how San Francisco
altered their agreements with the Oracle Americas Cup organization AFTER they had struck a deal. San Francisco did not follow thru on many commitments and failed to make decisions in a timely fashion.
Additionally, San Francisco claims to have seen a negative return on all the money they invested in Americas Cup. The city claims that America Cup fans do not spend the money in the City by the Bay that they should have in order to allow the Cup event to be a profitable experience for the city.
I have no way to know if any of the claims made by either side are true but I know that here in San Diego
the city is going nuts while trying to convince Oracle Racing
to hold the event in San Diego
It will be true stadium America's Cup Racing
if it comes to San Diego.
Again, I do not know if that is a good thing but it is a sure thing if Ellison has his way.