America’s Cup authority plans to hire 120 workers

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The America's Cup final is still two years away, but the business arm of the sailing event has plans to grow its San Francisco-based staff to 120 people.

The America's Cup Event Authority - which is in charge of generating revenue for sailing's most prestigious contest - will hire as many as 120 people in its San Francisco office during the next two years. It has no employees now, the San Francisco Business Times reported.

The new hires will be in charge of lining up sponsorships, televising the races, marketing, merchandise sales and the myriad other commercial aspects of the 34th America's Cup.

The event authority, headed by chairman Richard Worth and CEO Craig Thompson, is also looking for office space, which needs to be large enough to hold about 30 people during the next few months for the first wave of hires.

San Francisco was awarded the 2013 America's Cup on Dec. 31. It was a victory for city officials, who hope the event will pump 8,000 jobs and about $1 billion into the local economy, the newspaper reported.

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