America's Cup: No 'Dramatic Swing' in Cost to City in New Report — It'll Still Cost a Ton

Last week, the city's budget analyst released an eye-catching report claiming that San Francisco would lose out on hundreds of millions of dollars should it see fit to host the America's Cup regatta on the terms currently before the city.

The mayor's office dropped into a defensive crouch, and predicted a second paper from the budget analyst, due out this week, would paint a rosier portrait of the city as the worldwide yachting Mecca.

Well, that's not going to happen. Since the Budget and Finance Committee failed to calendar the item, the report's expected completion date has been pushed back to Dec. 1 or Dec. 2. But lead author Fred Brousseau told SF Weekly there wouldn't be a “dramatic swing” in the numbers from the earlier report: A projected $42 million shortfall in hosting the event, and some $86 million in foregone revenue via giving away prime waterfront land to yachting billionaire Larry Ellison. 

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