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America's Cup: fundraising push

San Francisco officials have promised to raise at least $270 million from businesses and other sponsors if the city is picked to host the next America's Cup, according to an agreement submitted Tuesday to the Board of Supervisors.

Software billionaire Larry Ellison's BMW Oracle Racing team, sponsored by San Francisco's Golden Gate Yacht Club, captured the Cup in February off the coast of Valencia, Spain, and now gets to decide the location, timing and type of boats for the next regatta.

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