Today the New York Times gets in on the America's Cup hating game, criticizing Oracle billionaire Larry Ellison for making the regatta so expensive to participate in that only four boats are going to be in the race.

They get quotes from noted yachting opponent Aaron Peskin and Supervisor John Avalos discussing their general distaste for the whole elitist boondoggle, and voicing the wish that Ellison will pony up the cash to cover some more of the expenses associated with the race.

The primary reason that only four of the expected 15 yachting teams are going to end up competing is cash — the boat design that Ellison selected has made the race pricetag for each team from $60 to $100 million, and billionaires like Ellison are financing two of the three other teams, with poor New Zealand left with just government and corporate sponsorship.

Also, the piece discusses the new safety requirements that are costing all four teams (the U.S./Oracle team, the Italians, the Swedes, and the New Zealanders) more money, following on the tragic death of a Swedish sailor last month.

Ellison himself declined to comment for the piece.

All previous America's Cup coverage on SFist.