A new independent report from the San Francisco Board of Supervisors Budget Analyst has found that taxpayers and the City lost $11.5 million from hosting the last America's Cup, which was promised to bring $1.4 billion to the City without costing taxpayers a dime. This is absolutely unacceptable.

We the People demand that Mayor Ed Lee and Board of Supervisors President David Chiu take responsibility for many broken promises about the last America's Cup and take action to hold the America’s Cup Event Committee accountable now by requiring that they pay back San Francisco taxpayers for the millions lost from the 2013 America’s Cup fiscal fiasco. Don't make the same mistake twice by signing another bad deal for another America's Cup that will cost SF millions – because we now know who will pay the price if they do.

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