It now seems certain Bermuda will host the America’s Cup in 2017, following confirmation from a top official in San Diego that the California city has been defeated in the two-horse race to decide where one of the world’s premier sporting events will be held.

Quoting an anonymous source, Associated Press reported that a decision had been made and will be announced on December 2 in New York.

That has now been backed up by an official involved with the San Diego bidding process.

Several newspapers around the world published the AP report yesterday, but government officials in Bermuda declined to comment.

San Diego Union-Tribune reporter Matt Calkins, learning of the decision, launched a scathing attack on the America’s Cup committee, chaired by billionaire Larry Ellison, the owner of Oracle Team USA, the defending champions. It was, he said, “all about money”.

Calkins reported: “On Thursday, a local official confirmed to San Diego U-T that the 2017 America’s Cup has been awarded to Bermuda, not San Diego, and dinero seems to be the principal reason why.

“Want to know the new colour of money?

“Yeah ... that would be ocean blue. Not only is San Diego the better place to host the next America’s Cup, it might just be the perfect place. From facilities, to accommodations, to history, to racing conditions — we trumped Bermuda in nearly every capacity as a potential venue host.

“But there was one thing the Atlantic Ocean island could provide that San Diego couldn’t — a tax-free experience for all the Cup’s participants. What we learned? That even the richest people in the world can sell out.”

Many will believe that the San Diegan reaction is a case of sour grapes, with top sailors having already shown their preference, aware of the sailing conditions that the Island offers.

However, leading sailor Malin Burnham, who hails from San Diego, told the U-T: “If you stack up Bermuda’s assets with San Diego, they don’t win on any direct comparison. The question is: Why would you go to Bermuda? It has to be for financial purposes.

“Bermuda is known as a tax haven for rich people. Is that the connotation you want for the America’s Cup?

“If it goes to Bermuda, it’s going to a place for non-sailing objectives.”

Grant Dalton, the Emirates Team New Zealand CEO, released a statement on yesterday afternoon saying that the team had not been told of any decision.

“We have been invited to a press conference to be held in New York on December 2 when the announcement will be made,” he said. “Until then it is only media speculation.

“San Diego and Bermuda are the only potential venues left in the race, so the media has a 50/50 chance of being right. We have developed business cases for both venues and have been in communication with potential sponsors and supporters.

“We have been encouraged by the positive reception we have had.”

Emirates Team Zealand, beaten by Oracle in 2013, suffered a setback this week with news that the Kiwi syndicate may not be backed by the New Zealand Government.

The New Zealand Herald reported that NZ Treasury had advised against supporting the Emirates boat, calling it “poor value for money”.

Last year the NZ Government contributed $5 million to Team New Zealand and is considering investing a similar amount this year.