PROVIDENCE, R.I.—Rhode Island needs to spend about $500,000 to host the new America's Cup World Series race this September in Newport, a state official said.
Keith Stokes, director of the Rhode Island Economic Development Corporation, said Thursday that the money would pay for renovations at Fort Adams State Park to accommodate boats and spectators. Stokes said state officials are working to finalize an agreement to bring the sailing event to Rhode Island.
The race, planned for Sept. 17-25, would be one of eight World Series races around the world leading up to the 2013 America's Cup in San Francisco.
Fort Adams needs additional dock space, cranes and upgrades to roads and utilities if it is to host the event, Stokes said. Some of the improvements would be permanent and would allow Fort Adams to host other events and boat races in the future, he said.
The race will feature 45-foot catamarans on a course that will be easily visible from shore, Stokes said.
"It's like Formula 1 racing," he said.
There's no word on when a final decision on the event's location will be announced.
Newport was in the running to host the 2013 America's Cup but lost out to San Francisco in December.
