The America's Cup cost San Francisco taxpayers at least $US5.5 million after the multi-million dollar event brought in far less money than projected.
In estimates released in March, the three months of sailing was expected to bring the city $US902 million in economic benefit.
But despite the event drawing more than 700,000 people to the waterfront , draft figures from the Bay Area Council show a multi-million-dollar shortfall.
The San Francisco Chronicle's reporter, John Cote says the bill is certainly substantial but the cup's supporter remain adamant it was money well spent.
He told Morning Report the mayor of San Franciso is keen for the defence of the cup to be held there again and believes the investment was worthwhile.
Although, Mr Cote said, some in the San Francisco city government are less enthusiastic about hosting the event again.
He said the event got off to a slow start with a lack of competitive sailing.
"But at the end the city was in fever pitch and it took hold."
He said supporters of re-hosting the event are hoping for that kind of enthusiasm, from the get go next time.