An America’s Cup Act will soon be tabled before Parliament as the Island vies with San Diego for the right to host one of sport’s most prestigious events.

The move was announced as tension mounts surrounding the final decision, which is expected before the end of the year.

The legislation is required for the America’s Cup World Series Racing Event in 2015, and should Bermuda be chosen as the host of the main event in 2017.

Governor George Fergusson said the biggest sailing event on the sporting calendar would highlight Bermuda’s heritage as a maritime destination and give the Island’s tourism product ‘unprecedented exposure.”

“In the event Bermuda has the privilege of hosting the Cup Finals, experience from former host venues indicates it will have a powerful impact on our economy over the next three years, attracting worldwide attention and generating jobs, investment and revenue across multiple sectors including, hospitality, construction, transport, security, retail, wholesale, real estate and telecommunications,” he said during yesterday’s opening of Parliament.

Earlier this week America’s Cup officials confirmed that Bermuda would host an America’s Cup World Series event in October 2015.

Initially San Francisco, which hosted the previous edition of the America’s Cup in 2013, and Chicago also threw their hat in the ring for the main event in 2017. But both have been eliminated, leaving Bermuda and San Diego to fight it out.

The America’s Cup match race could last for more than a month and will be preceded by races to decide who will challenge Oracle Team USA.

“Hosting an event of this magnitude on Bermuda’s shores will require teamwork, support and participation from all spheres of our community and a continuation of the spirit and dedication of the team of private sector volunteers, civil servants and other professionals who have worked tirelessly together to advance Bermuda’s bid into the final two,” Mr Fergusson said.

“The America’s Cup Event Authority is expected to make a decision between Bermuda and San Diego before the end of the year. Regardless of the final decision, Bermuda will benefit considerably by hosting the World Series Event in 2015.”