[applause] oracle racing team owner, larry ellison.ause] we also have representatives of two of the teams that will be competing. from oracle, john. [applause] and paul. [applause] so let's start with the man who made this all possible, under his watch, america's cup and a world series, san francisco's mayor gavin newsom. [applause] >> thank you. welcome, everybody. this is a day many people did not think was going to happen. i could not been more proud of that so many of you took the time to be here to truly celebrate and reflect on an extraordinary moment in san francisco's history. this is a big deal. i will confess, though at my own peril, that i did not understand what a big deal this was when we started down this path and we walked down the steps, larry, about a year or so ago in february 2010. i've always loved sailing. as a vestige of my youth, i remember becoming more aggressively engaged in the defense of the america's cup as it was held in san diego and back east. i truly never understood how transform give a could be to a c

gavin newsom and larry ellison, team owner, oracle racing. [applause] [applause] ♪ ♪ ♪ >> please welcome are masters of ceremony, johnnie moseley. [applause] >> mayor newsom, distinguished guests, welcome. you might be wondering what i'm doing up here, but i did sail as a kid. at some point, i thought i could be a world class sailer. and then i got last place and i figured out skiing was for me. i would like to be involved. i'm honored to be here. i would like to be actually sailing, but this is the gig that i have got. thank you very much. these are incredible. i think that's what is bringing a lot of excitement to the america's cup that is coming to the city. it is amazing. they are fast. i may freestyle skiier. when i watch them, it is exciting. it reminds me of an extreme sport. it's going to bring a lot of excitement to this city. i've been to a lot of events that are big. i saw what the olympics did for salt lake city, and what it is still doing, all the youth programs, and the ski jumps. 2010 ended with the news we had all been hoping

voters took a clear stand on anybody connected with the steroid era. >>> as we reported earlier, larry ellison says he is not looking into buying the hornets despite a report. ellison lost on the bid to buy the warriors. warriors taking on the hornets. former warrior, marco, belissimo where was that for don nelson. warriors are trailing in the third quarter 72-68. so they have a little work to do >> let's get another check on cool but lovely forecast. >> we have some crisp, cool winter afternoons most areas but we will have to deal with a ail a chill in the morning. dense fog around tracy and bay area, for the northern san joaquin valley, widespread dense fog with near zero visibility and look for patches of freezing fog. here in the bay area we will have to deal with pockets of dense freezing fog after midnight and patches of ice. so tomorrow morning, give yourself a little extra time if you are heading out the door. in the morning, numbers in the low 30s to the upper 40s by noontime. you are looking at fog lingering holding the temperatures down in inland areas around 4:00 p.m. we have 40s a

keeping up with larry ellison a task in itself. and moving it to san jose? is this story viable? >>> also hello to jed york. some covert meetings with the possible new head coach for the 49ers. we've got the inside scoop. >>> and the giants back in the headlines. that minor rift with the dodgers regarding opening day? there might be a resolution. jeff ranieri. >>> we're tracking a cold night across the east and the south bay, but one of the warmer spots at least this hour. san francisco at 52. we'll tell you who will have the most fog for your morning commute coming up. well, i love a deal on a designer bag as much as the next girl! love! i love love love! as a buyer for t.j.maxx, i'm always on the hunt. i check out the shows. i see what's happening on the street. and i work deals directly with the designers. so when i score... you score. gimme a fashionista... i'll make her a maxxinista. t.j.maxx. let us make a maxxinista out of you! >>> a marine veteran who served in iraq is now serving wine in livermore and he's counting on othe

i want to thank larry ellison personally for that privilege.d our absolute support and commitment to follow through on this bid. i think the unanimous support of this court should give them great hope and expectation, that after some of us have moved on to new roles, the folks that have taken our place will be equally committed to making sure we follow through and showcase the city and this race on an international and world scene. thank you, everyone. now it is my honor to invite president david chiu to share some words with all of us. mr. president? [applause] >> thank you, mr. mayor. i will be extremely brief because we have other items to finish in the board chamber. first of all, in sailing terms, in order for a team to win, the entire team need to be working together. i want to thank the skipper of our city, mayor newsom. all the members of his crew. i want to thank everyone on the starboard side and port side of the board of supervisors. in particular, christopher daly. you and the budget analyst raised so many issues that were important

organizers of the america's cup join city leaders and software mogul larry ellison.he regatta will be staged entirely within the confines of one harbor our bay in san francisco. this will offer and unprecedented amount of visibility to spectators along the shore. the headlines tonight. moving on, san francisco's police chief is renewing his call to arm his officers with tasers. this follows yesterday's shooting of a man in a wheel chair. abc 7's vic lee tonight with the latest developments. >> reporter: the police chief says the department is conducting several concurrent investigations in the aftermath of the shooting yesterday. this is the video we showed you exclusively on abc 7 news at 6:00 last night. a witness shot it on his i-phone. the suspect in the wheel chair had just stabbed an officer in the shoulder who tried to subdue him pepper spray. two officers fire service revolvers. he falls wounded from the wheel chair. the police chief says a taser would have produced a different outcome. >> a taser more than likely would have ended this scenario prior, the ear

ladies and gentlemen, larry ellison.lause] >> well, i guess the last time i was next to this trophy -- in regards to the changing hands in valencia, i made a very short speech in valencia. it was simply, thank you, valencia. that was the 33rd america's cup. it was an extraordinary event. it was a match between two teams. it was the best two out of three. we were very fortunate to have a wonderful piece of technology, created by a brilliant engineering team, a brilliant team of people, and a fabulous group of sailors. we were able to claim this trophy. now it is my chance to say thank you, san francisco. [applause] [applause] the trophy is back in the united states after a long absence, and we are very proud to be the team to bring it back. there were over 150 people on the oracle racing team. there are design engineers who can see the boat, and design the wing. there are people near seattle, washington who actually build the boat, and the sailors that are out there racing it. there are a lot of people behind the scenes,

but at this point it's just speculation about what larry ellison might be interested in doing. >> sanose's mayor chuck reid says he's never had any conversations with ellison about bringing in nba teams to the city. coincidentally the hornets hosted the warriors last night. you're looking at video from city hall of san francisco where america's come celebrates the race of 2013. >> the east bay valleys, you won't be able to find it because of the fog. it's a good looking trophy. >> like groundhog day when it's the same as yesterday. >> absolutely. that's what we're seeing in some parts this morning. this thursday visibility to a quarter mile in concord and fairfield due to tulie fog. novato, about a quarter mile there. what concerns me is the temperatures, 33 degrees in concord with that thick fog. looks like we could have black ice there. santa rosa, san rafael. mid to upper 30s until you get to san francisco and half moon bay at the mid-40s. as far as what's going to happen today -- excuse me -- we're going to have sunshine early in the morning. temperatures will remain pretty much i

i would not bet against larry ellison or the engineers he has put together who are the best and brightest all over the world, and i certainly would not bet against the sailing teams put together, so i really would not bet that we would not wind up having this for a number of years, each time having 1.5 billion or more jobs come to the city, but win or lose, there is another thing you need to consider -- the america's cup is the biggest sailing race in the world, but it is not the only sailing race. there are dozens of sailing races every year. if we build this venue -- it is a bit of a field of dreams moment -- if you build it, they will come to race here, and they will not come to race because it is such a natural our arena. nor because it is so beautiful, because it is in their own economic self-interest. they will come because sponsors will find them if it is held in san francisco because the media will show the races. we see that right now. we see that there -- i read an article how one of the team's -- either new zealand or russia -- have the funding for this coming race if it is in

it is larry ellison back in the news. the or acle racing owner and outgoing mayor gavin newsom were at the big to do at city hall marking san francisco's winning bid to host the next america's cup race. new year's evil ellison signed the deal with san francisco to host the 2013 cup. his team won the event in february giving him the right to pick the next city for the race. >> quite a cup. >>> it is the gift that nobody wants to give or get. gift cards that simply don't work. the mystery has been solve. what to do if you get one? >> anyone can make a balloon animal, right? the artist that says the image is his and the bay area store he is going nose-to-nose with. >>> chopper 5 flying high in the sky picking up the clear conditions now numbers dipping into the 20s. we will pinpoint those areas as eyewitness news continues. ,,,,, [ bird chirping ] [ snoring ] [ clears throat ] hop to, gang. it's showtime. uh, do you know this guy? i'm not gonna cry, am i? only if you don't believe in the power of friendship. really? you guys

but this point it's just speculation about what larry ellison might be interested in doing. >> san josechuck reid says he's never had any conversations with ellison about bringing an nba team to his city. it's 6:46. we've lost one tower of the bay bridge to fog and it's getting thicker out there. >> they're reporting a clear sky over sfo but flight arrival delays. they may be diverting it just a little about 62 minutes. check out this beautiful picture from mount tamalpais, just how thick the fog is in the north bay and how a slight breeze out of the north is pushing that into san francisco and slightly down to the peninsula. the north bay and east bay valleys, that's also where we have the coldest conditions and the possibility of black ice. check out these temperatures. 29 in santa rosa right now to 31 napa. 32 livermore. everybody's in the 30s if we look at these temperatures except for san francisco and half moon bay. around 41 degrees. as far as the monterey bay, temperatures upper 30s. inland though that's where the widespread temperature regimen is for 43 salinas and 31 gilroy. w

that's quite a distance. >> or larry ellison's yacht. >> sounds wonderful. >> i'm going to be in larry'siving room. he lives on broadway, too. >> gentlemen, thank you very much. phil matier and willie brown. >>> time now 6:52. a medical mystery at a bay area hotel. >> we'll have the latest on what may have caused several flight attendants to be rushed to the hospital overnight. >>> and if you have a story idea or comment you would like to share with us, email that guy right there, it is fire shirt friday and today we are giving a shout out to the vacaville fire department. thank you, brian. email him at brian@cbs5.com. switching to progressive could mean hundreds more in your wallet year after year. feed me! saving you money -- now, that's progressive. call or click today. the next, you start one feeling a bit off.ne. the moment you feel run down or achy, nip flu-like symptoms in the bud, with oscillococcinum. get oscillo and feel like yourself again. oscillococcinum, nip it in the bud. sonja (sahn-ya side >>> a mysterious health emergency at a popular san francisco hotel. sonja shin is

how larry ellison is responding to rumors that he wants to buy one and move it to san jose. >>> still not clear what this man's motive was for the a ttempted hijacking. but police say he's mentally i ll. no one was hurt. no bombs were found. >>> police in nebraska say the son of a police detective opened fire at his omaha high school, killed the vice principal and wounded the principal. 17-year-old robert buckler junior was found dead about a mile from the school from s elf- inflicted gunshot wounds. authorities say he recently transferred to the school. former classmates say he had been a fun outgoing student. he did post a rambling message on his facebook page just before the shooting. it referenced that he was u nhappy at his new school and apologized for what was about to happen. sanfrancisco is celebrating the win as host city for the 2013 america's cup sailing race. the winner and oracle ceo and other dignitaries gathered yesterday. and the 2013 cup's race, it's estimating, could have a $ 1 billion impact on the bay area. >>> and there's more rumors about larry ellison. it's rep

here you see the trophy arriving what it was won by billionaire larry ellison and bmw oracle. it was sponsored by the golden gate yacht club which is

we heard stories about larry ellison's youth where he discovered that passion for sailing here in san francisco proper as well. as we went through the process, more and more people enthusiastically organized around this effort, to support this race. it was remarkable to listen to some of the public comment. i do not recall one comment in any of these committee meetings, any of the meetings at city hall, or at the port commission that were inherently negative. people had constructed criticism, but nobody said, forget it, you are wasting time. it was rather extraordinary. i know it has become a cliche, the cute line to throw away, that unanimous consent being, not necessarily a lost art, but an anomaly, but i have never been a part of something that has brought so many diverse people and public and private sector support to go that it was involved in this bid. we expressed that to mr. ellis said. i think there is a tremendous amount of spirit and pride around being able to compete on the world stage. when san francisco is afforded that opportunity to do something that celebrates those u

. >> larry ellisons america's cup race is expected to bring in more than $1 billion when it comes in 2013. turns out what is good for the city by the bay isn't necessarily good for the businesses by it. from the pedicabs that cruise the embark dare -- embarcadero to soccer players in the parking lot, to mr.eded tood's vintage r -- tours. they're about to begin a wild ride. as many as 8 0 businesses could be forced to move. david chu said they shouldn't worry. >> the city absolutely values these wednesdays and -- expwnsz we're going to assist in relocation. >> reporter: businesses are sitting on piers where ellison's team plans to hold a public viewing area for the regatta. >> i would love the america's cup to come to san francisco. but i think that it could be brought here without a sort of slash and burn approach to the waterfront. >> reporter: michael denny runs american wine distributors in pier 23. moving out of his space will mean a major headache. all his business licenses are tied to his address. >> i have about 65 licenses all over the country that are all posted to that addr

here you see the trophy in san francisco it was won by larry ellison and their team. did they were sponsored by eight san francisco of colgate got club which is why the trophy was here. it's up to the winning team to decide who will host the next america's cup and it does look good against san francisco. newport run and was brought into the running because san francisco change some of the financial terms to their proposal. newport was not able to for decades but was able to commit to the cup. drain the cut to san francisco will made renovations to several peers in san francisco, you see areas that could see renovations. supervisors talked about what witnesses he feels for the city. >> but it this way there would be no other motivation to also reach purpose our peers and a fort. quite frankly they would remain in the paralysis that they're in right now, four city to have this post and quite a luxury to be able to reach a match and parts of the port of san francisco, i don't think any other city in the u.s. can boast that prospect. >> everyone feeling that this is what'

here facilitating the event and making sure that it meets all of the expectations of not just larry ellison and the oracle team, but all of the teams that will be competing here. [applause] >> thank you, jennifer. on behalf of all of us at the america's cup, all my colleagues, and everyone even associated with the cup in any way, we are pleased that the new mayor lee has chosen to stand up and recognize the cut so early in his term. it is a great sign of support and confidence in what we're doing. i have to say the whole city has warmly and enthusiastically embraced as. we feel like everyone is reaching out to us to offer a hand to help us make this the bet -- the best event possible. our job is to stage this event, working very closely together with the people from the city, the board of supervisors, the port authority, all the citizens of san francisco. the cup is coming home. it has been gone for a long time, and it is our job, together with all of you, to show the world what this cop really can be. to break this new crown, to take it to the place where it is going to become a worldwide

goes, what's gonna be happening here come the cup, this is gonna be the public viewing area for larry ellison's team, he's the software mogul who won the race in february off the coast of spain. we're live in san francisco, i'm tara moriarty, ktvu channel 2 news. >>> ahead -- another court appearance for the woman who was in the san francisco drug lab scandal. >>> it's celebration at a bay area school. >>> and there there was a of fog this morning -- there was a lot of fog this morning. steve will tell us if there's more to come. >>> small gifts that were a big deal to some homeless people today. that story -- ahead. >>> the san francisco lab employee cleared of the san francisco lab scandal could hear from a judge on another charge. the judge may set a preliminary hearing date for former crime lab technician, deborah madden, on an unrelated drug lab scandal charge. she pleaded not guilty. state authorities decided not to prosecute her because of a lack of evidence. >>> we're finding out today that a 21-year-old concord man turned himself in to police last night in the -- in connection with a f

. >> forms of reporting back to larry ellison is interested in buying the hornets and moving them to san jose. that means san jose would be a good place for an nba team as it is the 10th largest city in the nation that already has a stadium currently used by the san jose sharks. >> at persons we first entered into the agreement with the sharks we've kind of most recently we advise our agreement to allow them to take the lead in knowing that if that's when a team comes in the to work closely with the sharks in order to be successful. the sharks have it, the ball is in their court to install let them to take the lead on this >>. the deal would be good news for the warriors as allison would have to pay them at least $100 million for bringing a second team to the bay area. while we're talking about san jose let's check traffic there the headlights' are southbound on highway 1 01 at the guadalupe overpass. traffic moving well north and south. in fact all traffic directions are doing well right now. we'll be back much more had after the break. ♪ let's go out to the dmv ♪ it's ok that we're

this is video of the actual race in 2009, won by oracle's founder larry ellison san francisco board presidentllars into the local economy ellison says they plan to redevelop years 19 through 32. >> we want to develop them in such a way that's both environmentally friendly and makes economic contributions to the city and where residents of the city want to go whether it's for lunch or a walk by the waterfront or border wonderful boat and go for sale. if we want to integrate that landed here is into the life of the city. the economic cultural and social life of the city. >> america's cup 2013 will take place along the san francisco bay in the summer of 2013. we'll be right back. seen wedding proposals on twitter to gogol's review. kimberly has a look at the latest online proposal. >> the company is calling the proposal. it took place on group on a local deal by sight. let's look at the grupo sol. it's called the surprise for the day now from greg. it was like today. at the bride to be did click yes. the proposal written by greg himself. the editorial is packed with facts about couple kind of fu

. >> foshs is reporting tonight larry ellison might be interested in bringing hornets to san jose. and now hornets are up for grabs. and the nba wants to sell the franchise. observers feel they can become profitible. if bought the hornets they can join the sharks as tenants at hp pavilion. >> there is a lot of interest in moving a basketball team into san jose. at this point it's just speculation about what he might be interested in doing. >> the mayor says he's never had conversations with ellison about bringing the team to his city. lawyers played in san jose during 1996 and 97 season. >> wildlife experts say a loud noise caused massive bird deaths in arkansas. a thousand birds fell out of the sky, scientists say they don't think they're these and said believe the birds were panicked by a loud noise, causing them to slam into the ground. experts in kentucky are trying to figure out what killed hundreds of birds there. red wing black birds and starl starlings were found in the western part of the state. 450 were found dead in louisiana this week. >>> a fishing boat is grounded alo

>> reporter: under the terms of the deal, larry ellison's bmw racing team will spend $80 million. in exchange the city is giving the group development rights for more than 60 years piers 19 through 29, 30 and 32. >> for the city to have this boost and really quite a luxury to be able to reimagine parts of the port of san francisco, i don't think any other city in the united states can really boast that prospect. >> reporter: the city expects the event to pump more than $1 billion into its economy and bring a new look to its waterfront along the way putting wind in the sails of businesses like pier 23. >> to repeat san francisco has officially been named the host of america's american cup. only the olympics and the world cup bring in more money for host cities. we'll have much more coming up on nbc bay area news at 6:00. >>> now to -- what is it? new year's eve. and what will be a night of celebration all around the bay area. and while many people will be out in search of a good time in their own way, they'll have one thing in common. they're going to have to dodge some raindrops.

it was picked by larry ellison against a foreign challenger.hat will be determined by a series of races for the louis vuitton cup scheduled from july 13th to december 1st in 2013. it will be decided by the best of nine races. >> caltran is reporting major progress in the devil lied project. they've completed excavation work they've been digging as a bypass. they've been digging nearly two and a half years now. they now have the line the tunnels, pave the roadway and install lights. it's expecting to be open to traffic early next year. >> a new i-phone app they believe will save lives. designed for the san ramon fire department kind to give people trained in cpr a heads up if someone needs their call. it uses the i-phone's gps and direct the responder to the victim and transmit the location of the nearest defibrillator. >> it offers an unprecedented level of civic engagement and public safety by dispatching cpr-trained citizens to cardiac emergencies occurring nearby. >> software designers are working to make it available on other devices as wel

. >>> oracle's larry ellison denied a forbes report that he wants to buy the hornets and move them to san jose. the team out bid ellison after ellison failed to buy the warriors. the hornets hosted the warriors tonight. san jose believes they can provide fans and corporate sponsors to an nba team at hp pavilion. the warriors played there during the 1997 and 1996 seasons. >>> well, he celebrated the cup coming here, but he says more teams are coming here to race. they will host the 2013 race, but only five teams have signed up so far. >> i think we know about five more that i think will be entering shortly. we hope to get the chinese here and the japanese here. >> out going mayor gavin newsom believe itself will bring a financial boom to the city and other see it as an opportunity to spruce up along the embarcadero. >>> nancy pelosi surrendered her leadership post to republican john boehner. shend thated boehner the speaker's gavel when the 112th coming convened. boehner is the 61st speaker in the history of the house. and he is the third republican to hold the position since 1955. he

mayor newsom, oracle racing owner larry ellison and the america's cup authority will be present for that. the celebration will be at 3 p.m. at san francisco city hall. >>> coming up, a new congress. the new era on capitol hill, what is at the top of the republicans' agenda. >> okay, what would you do with $355 million? don't you wish you had t choice? what we're learning about the winners and the connection to a popular tv show. >> hi, i'm meteorologist lawrence karnow in the cbs 5 weather center. i know what i'd be doing, sleeping! we would see the sun showing up around the bay area and it's going to be great day but more fog is on the way. we'll talk about that coming up. ,,,,,, 3q copd makes it hard to breathe so i wasn't playing much of a role in my own life. but with advair, i'm breathing better. so now, i've got the leading part. advair is clinically proven to help significantly improve lung function. unlike most copd medications, vavair contains both an anti-inflammatory and a long-acting bronchodilator, working together to help improve your lung function all day. advair won't rep

. >> larry ellison's cup race is supposed to bring in billions when it comes to san francisco in 2013it turns out what's good for the city by the bay isn't necessarily good for the businesses by it. from the petty cabs that cruise the embarcadero. to the soccer players in the parking lot of piers 27 and 29. to mr. toe's vintage car tours. they're all including the list of businesses along san francisco's waterfront that are about to begin a wild ride. the board of san francisco says as many as 80 businesses could be forced to move to make room for the regatta but san francisco board of supervisor president david chew says they shouldn't worry. >> the city absolutely values these businesses. we're going to do what we need to do to assist these businesses in relocation. >> these businesses are sitting on piers where ellison's team plans to hold a public viewing area for the regatta. michael denny runs american wine distributors in pier 23. moving out of his 1400 square foot space will mean a major headache. >> i have about 65 licenses all over the country that are all posted to that add

francisco put together with a surprising unanimous vote from the board of supervisors would permit larry ellison's oracle yacht team to develop several piers along the waterfront plus he would pay the city up to $80 million to do it. develop means refurbish the dilapidated pier making them earthquake safe. >> they would remain in the paralysis they are right now without the deal. for a city to be able to have this boost and really quite a luxury to be able to reimagine parts of the port of san francisco? i don't think any other city in the united states can really boast that process respected. >> reporter: what's in it for ellison? he gets to lease the piers for decades and reap the financial benefits of the businesses that open up shop there. >> being able to laser into something that magnetizes people to the water and to the bay and give them an opportunity to enjoy something they haven't before? i think the possibilities are really quite, you know, profound. >> reporter: the race isn't scheduled until 2013. so there's a little bit of time to do all that work down here along the waterfront. but

mayor newsom and oracle racing owner larry ellison and the racing cup authority will be present. it america's cup will be held in san francisco bay in 2013. >>> another turn of events in the legal battle over same-sex marriage in california. a federal appeals court has been reviewing the constitutionality of proposition 8 the voter- approved measure that limits marriage to men and women. yesterday the court kicked the state back to the state supreme court. the federal appeals judges say they can't proceed until the state's high court decides whether prop 8's sponsors have the standing to defending it in court. >> if they don't, if the people in court don't meet that legal requirement of standing, the court cannot consider the actual merits of the case. >> whoo! >> prop 8 backers want to defend the measure because state leaders have refused to appeal a trial judge's ruling that it's unconstitutional. >>> the university of california's president and regents chairman are responding to a legal threat from three dozen uc executives. in a statement mark yudof and russ gould said the uc

here facilitating the event and making sure that it meets all of the expectations of not just larry ellison and the oracle team, but all of the teams that will be competing here. [applause] >> thank you, jennifer. on behalf of all of us at the america's cup, all my colleagues, and everyone even associated with the cup in any way, we are pleased that the new mayor lee has chosen to stand up and recognize the cut so early in his term. it is a great sign of support and confidence in what we're doing. i have to say the whole city has warmly and enthusiastically embraced as. we feel like everyone is reaching out to us to offer a hand to help us make this the bet -- the best event possible. ou

. >> negotiating with larry ellison is not an easy deal. i've had some experience in that myself. my hats off to the city. >> reporter: the former commodore for the st. francis yacht club says the scenery is what made the decision. >> new port i think they would have to sail out on rhode island sound. >> reporter: we'll hear from business owners from around the city and they'll tell us how they hope the cup will fill up their registers. david stevenson. >> the effect the america's cup is going top, patti. >> reporter: this competition has received so much attention here and across the world and all day people have been coming up to us asking us who won. drummer john king is celebrating, new year's eve and news that san fan san francisco will be hosting the next america's cup. >> that's great news, that's fantastic. that's kind of getting the world cup or the olympics. >> i will tell you, i would not be surprised either way. >> reporter: a city spokesman earlier today says that there's only minor changes. which includes oracle investing on pier 22, all of that for free rent and dev

a red carpet moment at city hall as america's top winner and oracle ceo larry and ellison gavin newsom ascended the steps. >> it is my chance to say thank you to san francisco. >> the trophy is back in the united states after a long absence, and we are proud to be the team to bring it back. >> reporter: they say the 2013 america's cup will feature onboard cameras and the race is expected to drop 10 million visitors to the area from a dozen countries. >> we are talking about hundreds of millions of dollars that will be invested. >> reporter: they won the honors after intense the go station as the board of supervisors president noted to alice in. >> your reputation precedes you in the form of your negotiators. >> reporter: they have agreed to make $55 million to the waterfront and into in the city made processions. ellision says he wants to hold the race in san francisco and lincoln insurance is that infrastructure could be built in time -- and needed assurances that infrastructure could be built in time. now the work begins in the race could have a $1 billion economic impact in the area

francisco put together with a surprising unanimous vote from the board of supervisors would permit larry ellison's oracle yacht team to develop several piers along the waterfront plus he would pay the city up to $80 million to do it. develop means refurbish the dilapidated pier making them earthquake safe. >> they would remain in the paralysis they are right now without the deal. for a city to be able to have this boost and really quite a luxury to be able to reimagine parts of the port of san francisco? i don't think any other city in the united states can really boast that prospect. >> reporter: what's in it for ellison? he gets to lease the piers for decades and reap the financial benefits of the businesses that open up shop there. >> being able to laser into something that magnetizes people to the water and to the bay and give them an opportunity to enjoy something they haven't before? i think the possibilities are really quite, you know, profound. >> reporter: while san francisco doesn't quite have the waterfront facilities to go yet, it does present a really fabulous way to watch the races.