Mr. Ellison you were instrumental in bringing this race to your own backyard, San Francisco. Please do not leave the residents of this city
holding the bill. Stand up, put your money where your mouth is, and
support the city and the race that you love so much.
As owner of America's Cup champion Team Oracle, and a critical supporter of bringing America's Cup to San Francisco, you know that the America's Cup Fundraising Committee is projected to fall between $10-$20 million short of the funds needed to put on the massive sailing event this August. If this fundraising goal is not met the city of San Francisco, and its taxpayers, are required to pay the difference. In these economic times the city of San Francisco cannot afford to redirect $10-$20 million from essential city funds to a sailboat race. We are calling on you, Larry Ellison, to pay the difference in the fundraising shortcomings.
Your net worth is $43 billion. Covering the America's Cup debt would be equivalent to a person who has $40,000 donating $13.95. Is that too much to ask?
Please don't make San Francisco use general funds to pay for a sailboat race. San Francisco has much more important needs for those funds.
Why Larry Ellison?
Mr. Ellison is owner of the reigning America's Cup champion boat and worked relentlessly to bring the sailboat race to San Francisco. He lobbied, fundraised, interviewed, and helped roll out a campaign to sell the idea of this race being held in San Francisco. This is his event, and we need him to ensure that the event helps the city more than it hurts the city. Mr. Ellison can do this by committing to fill the fundraising gap and not making the city pay for the Fundraising Committee's failure.
San Francisco is hosting the 34th America's Cup. The sailing competition has a history of being one of the largest sporting events in the world. During the America's Cup planning process the official Fundraising Committee set a goal to fundraise $32 million in private funds for the event. If that goal was not met than the city of San Francisco would be left holding the tab. Currently the Committee is falling very short on their goal and the city may have to pay $10-$20 million for the sailing event. San Francisco cannot afford to cut general funds that keep this city running for a sailboat race.
What do we need?
We are asking Larry Ellison one of the lead organizers, sailing team owner, and 5th richest person on the planet to cover the fundraising difference for his sailboat race. Larry Ellison is worth $43 billion. The America's Cup Fundraising Committee is is projected to fall $10-$20 million short. If Mr. Ellison would commit to cover $15 million for the event it would be the equivalent to someone to someone who has $40,000 donating $13.95. Is that too much to ask?
Sign and share the petition!
Sign the petition and share it with your community! Ask Larry Ellison to do the right thing and pay for the event we brought to the city. Lets make sure America's Cup helps San Francisco more than it hurts.