America's Cup: City Still Crunching Numbers on 'Doomed' Deal

Categories: Government, Sports
Can San Francisco afford to have this?
Being an accountant isn't usually compared to combat soldiering. But, in San Francisco, the city's Budget Analyst's office knows theirs is not to make reply, theirs is not to reason why, theirs is but to do and die.

So while the America's Cup Powers That Be shocked the city by abruptly announcing that the deal currently on the table is not acceptable -- and a new one must be hammered out by Friday or they're sailing out of town -- the Budget Analyst is still tweaking the numbers on that doomed deal and presenting them today.

"We were given an assignment by the Budget and Finance Committee to report on the the latest proposed host agreement," said Budget Analyst Harvey Rose. "We are still working on it as we speak. We will issue our report [Monday] morning."

Neither Rose nor the pending report's principal author, Fred Brousseau, would release details ahead of time. Brousseau, however, noted the current "Northern Waterfront Alternative" -- which, again, has been ruled unacceptable by the yachting bosses -- is "certainly better than the first agreement."

Rose wouldn't comment on whether it'd be a good thing or bad thing for the America's Cup to skip San Francisco -- his is not to make reply. He did note, however, that his office's two earlier reports -- which each predicted the city would lose boatloads of money hosting the event -- "both stand." 

It remains to be seen what manner of shenanigans will ensue in the few days before the America's Cup organizers have demanded the city make them a better offer. But the city's number-crunchers' job is straightforward.

They'll add up the figures for the "Northern Waterfront Alternative" -- which is still the city's official bid, even though the other negotiating partner has already rejected it.

The terms of the agreement, obviously, are subject to change, and may even change after a "final" agreement is reached. Brousseau has now written three fiscal feasibility studies. He says he's up for more, if need be.

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