San Francisco, CA, United States (AHN Sports) – San Francisco City won the right to host the 2013 America’s Cup after Rhode Island officials failed to present a final offer before the December 31 deadline, a source close to the situation reported Friday.

For the first time in history, San Francisco will be staging the oldest and most coveted sailing event in sports: the America’s Cup.

Sources indicated Oracle racing, the reigning America’s Cup champion, picked San Francisco after IR officials backed out from its bid to bring the event back to Newport.

Moreover, software billionaire and Oracle racing chief backer Larry Ellison reportedly appreciated the effort of San Francisco officials, who was able to present a final offer two weeks before the deadline.

San Francisco also boasted its natural amphitheater along the bay and a multi-million dollar budget in preparation for the next America’s Cup.

San Francisco mayoral spokesman Tony Winnicker stated mayor Gavin Newsom has yet to receive a confirmation, but they are nevertheless optimistic about their chances after several meetings with the racing team this week.

Oracle racing, who parted ways with automaker BMW recently, was previously considering Newport IR, Valencia, and a Middle East City as possible hosts for the event.

The 2013 America’s Cup will feature a new class of boat, specifically the AC72 (wing-sailed catamaran), abandoning the monohull classes.

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