Report: Louis Vuitton wants America's Cup refund
SAN FRANCISCO (KGO) -- One of the big sponsors of the America's Cup wants a hefty refund.
The French retailer's contract was based on at least eight teams competing in the Louis Vuitton Cup, the two month round robin competition that determines which team will sail against Oracle team USA for the America's Cup. There are only three teams competing in the challenger series.
The SF Business Times report says Louis Vuitton is entitled to a $1 million rebate for each team less than six that participates.
america's cup, san francisco bay, wind, sports
- Water main break floods Castro Valley neighborhood
- Four people in the South Bay die due to cold weather
- North Korea deports elderly Palo Alto man
- Cal students led move toward divestment
- Craigslist ad asks to rent family for Christmas
- Local schools race to keep up with technology
- Man suspected of throwing 2 cats into bay arrested
- Make-A-Wish, Macy's team up to help Daly City girl
- New option studied for treating back pain
- SF man calls 7 On Your Side to help in luggage mixup
- Photos: Record low temperatures freeze the Bay Area
- abcnews: Fierce winds force pilots to abort landing...
- roundup: Teen struck in crosswalk; EPA shooting
- weather: Bay Area weather forecast for Saturday