The chances of the next America's Cup being sailed with a backdrop of the Golden Gate Bridge and Alcatraz improved dramatically Tuesday. City officials reached a host city agreement with the Golden Gate Yacht Club, which backs America's Cup defender BMW Oracle Racing.
The agreement quickly was submitted to the city's board of supervisors, which must approve it. Six of the 11 supervisors are co-sponsors of the agreement. The city pledged in the term sheet to help raise $270 million from corporate sponsors to help defray the costs of staging the regatta.