A winning bid for San Francisco, no stranger to strong winds coming in off the Pacific, would be a historic feather in Oracle CEO Larry Ellison’s cap, after his BMW Oracle Racing team won the 33rd America’s Cup this past February. Ellison, the sixth-richest person in the world with an estimated net worth of $26 billion, has been a fervent cheerleader for bringing the race to the Bay Area, which stands to gain a potential $1.2 billion economic boon from the hosting the race nearly three years from now.

Ellison’s team is actually sponsored by the city’s Golden Gate Yacht Club, and all the supervisors had to agree to was some $80 million in infrastructure upgrades and long-term leases on select pieces of waterfront property. After the 11-0 vote was handed down, San Francisco mayor Gavin Newsom quickly signed the order. If the city had not approved the bid by Friday, San Francisco’s chances would’ve been severely hampered, as race organizers wanted some assurances before making a final decision.

We’ll know by the end of the year whether San Francisco is the chosen one — race organizers have promised an announcement by December 31 — but it’s sure to enhance Ellison’s reputation as Silicon Valley’s leading sportsman. And unlike other tech billionaires who prefer to spend their money on sports franchises from afar, Ellison is as comfortable at sea as any of his award-winning crew.

Image: AP/Alberto Saiz

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Authors: Erik Malinowski

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