i am peter stoneburg, rear commodore of the yacht club and a member of the america's cup organizing committeehave been to and seen the great improvements made to other america's cup venues like newport, rhode island, san diego, california, valencia, and auckland, new zealand. we have an opportunity to host the oldest trophy in the sport, to bring the global recognition to our great city, and to bring over $1 billion in economic value and nearly 9000 jobs. we have heard that through the day. i would like to talk about time. time is of the fn -- is of the essence. teams are pushing very hard to learn what venue is going to be for the 34th cup. they need to know whether it will be raced in 25 knots or five knots. san francisco provides 25 knots. they need to know. the city also needs to know so we can start the ceqa process and begin building what we need to do it and deliver on our promises as a city. timing truly is of the essence. my profession is mergers and acquisitions. i have worked with larry ellison before in my other life, and i know from firsthand experience that he will walk away fro