If the America’s Cup fundraising committee can’t come up with $32 million, the city’s going to be on the hook for a big chunk of change — as much as $22 million — budget analyst Harvey Rose says. Just for the record, I’d like to point out that the America’s Cup won’t just be an economic bonanza for the city (if it in fact turns out to attract a lot of people) — it will be a huge advertising and public-relations boon for Oracle Corp, which will have its singature logo and the sail of its boat. Larry Ellison, who will be helping skipper the boat, will be all over the news. You won’t be able to read a newspaper or watch the TV news or read anything online about the cup race without seeing the Oracle logo. You can’t buy that kind of exposure for any level of money.
And as far as I know, Ellison hasn’t contribute a dime to this fundraising committee.
For the record — and I’m pretty sure I have the math right — $22 million would be less than one tenth of one percent of Ellison’s net worth.
Larry, for god’s sake: Write out a check.