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And then There Were Two?

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The San Francisco Chronicle is reporting that Valencia, Spain, has dropped out of the running as the site of the 34th America’s Cup Regatta, leaving San Francisco and an unidentified port in Italy as the last remaining contenders.

America’s Cup organizers are planning to announce a venue for the 2013 event by the end of this year. San Francisco mayor Gavin Newsom has been lobbying hard to have his city host the regatta, saying it will infuse $14 billion into the economy and help revitalized the waterfront.

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