Anyone thinking of hosting the 38th America’s Cup would do well to consider their attitude to hosting the iconic event.
Catalan News reports that the Port of Barcelona made a financial loss of €3.5 million (£2.9 m) from hosting the America’s Cup event, held in the Catalan capital between August and October last year [2024].
The cost of preparing the area for the teams was €4.5 million (£3.7 m), while the event earned an income from the AC37 competition of around €1 million (£827,000). Thus the negative economic balance of €3.5 million (£2.9 m).
Despite this, the event had a “very positive” overall impact, as it accelerated several key investments.
The event lead to significant refurbishments along the city’s seafront in the following two years. But despite that both local authorities and organizers ruled out holding the next edition in Barcelona.
In total, the sailing event cost Catalan taxpayers €54 million (£44.6 m), of which €30 million (£24.8) came from the Catalan government, €10 million (£8.3 m) from the city council and €5 million (£4.1 m) from the Diputació de Barcelona, among others.
Auckland in New Zealand is the latest port to look at hosting the next America’s Cup, with possible funding via a bed night levy on the bills of people staying in Auckland’s hotels.
