The Pensacola City Council is set to vote this week on a 10-year lease agreement that would make American Magic's move to Pensacola official. The sailing club would pay $291,200 per year for their headquarters at the Port of Pensacola, and have the option for another 10 years. Mayor D.C. Reeves says the proposal stipulates that the headquarters be finished by December 2025, however, the city intends to complete the project by December of this year.
Should American Magic win the America's Cup this year, the team would be required to host at least a preliminary regatta in Pensacola. The team would also be required to host a yearly open house for the community, and two national or international events per year in Pensacola Bay.
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