SAN DIEGO — A person with knowledge of the situation says the tax haven of Bermuda has been picked over San Diego to host the 2017 America's Cup.
The person spoke with The Associated Press on condition of anonymity because defending champion Oracle Team USA, based in San Francisco, hasn't made the decision public.
The person said software billionaire Larry Ellison of Oracle Corp. made the decision after consulting with the CEO of his sailing team, Russell Coutts, a New Zealander who also is director of the America's Cup Event Authority.
The choice of the British territory is intriguing, from its location at the northern tip of the Bermuda Triangle to the financial incentives that include tax-free status for regatta participants.
The announcement is scheduled for Dec. 2 in New York.