SAN FRANCISCO (BCN) San Francisco supervisor John Avalos on Tuesday aked for a hearing on concerns that the city could be on the hook for upwards of $20 million in expenses for the America's Cup sailing races later this year.
San Francisco has pledged to spend around $30 million on the races, which start in July. That money was supposed to be recouped by private donors but fundraising has stalled, Supervisor John Avalos said.
The America's Cup Organizing Committee, the group tasked with raising money for the races, "has not lived up to its pledge," Avalos said.
The supervisor said he is requesting a hearing be held in the next couple weeks on the status of the fundraising and the possibility of the city being reimbursed for a portion of the amount not raised.
"It seems like there's been a real obfuscation of the impacts and benefits" of the races, Avalos said.