S.F. Promises $270 Million for America's Cup

The Chron has word that the city plans on raising loads of money in order to host a fancy sailing race. Check it: "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 sailing race, according to a draft agreement obtained by The Chronicle." Refreshed-face billionaire Larry Ellison won last year, so now he gets to "decide the location, timing and type of boats for the next regatta." [Chron]