NEWS

«Hosting the America's Cup» will cost Bermuda $77 million

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Hosting «the America's Cup» on its territory will cost Bermuda $77 million, according to foreign media reports.

Thus, $15 mln will be paid to the organizing committee of the competition as a contribution, $25 mln should the region be covered by insurance in case of lack of sponsors. Another $14m will be spent on preparing the infrastructure and building the docks and the athletes' village. Operating costs to keep the village running will be $11 million, and covering transport costs, rescue services and insurance accounts will require another $12 million.

«At the same time, the authorities are confident that the event will pay for itself: the region is expected to gain about $ 250 million. Recall that San Francisco, the host of the America's Cup» last year, was unable to recoup the costs of the event. The city suffered a loss of $5.5 million.

The venue for America's Cup 2017 became known in early December. Bermuda was confidently ahead of its key rival, the city of San Diego.

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