Malin Burnham, head of the America’s Cup...

Malin Burnham, head of the America’s Cup Organizing Committee, said public money is needed to help stage the international regatta off San Diego in 1992. Burnham estimated that it would take $20 million to finance the event.

Burnham proposed a public-private partnership to raise the funds and said at least half of the amount would have to come from public agencies.