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A-Cup Money Woes

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According to the City's Controllers Office, the America’s Cup Organizing Committee only has $800,000 of the $12 million it had aimed to raise by last week. The group is in charge of raising $32 million for the races over the next two years to help cover the race’s total $300 million cost. The Controller's Office isn't optimistic, saying "given the ACOC’s expenses and fundraising payout schedules, significant additional fundraising beyond those achieved to date will be required." [SF Examiner]