Baltimore loses bid to host stopover of Volvo Ocean Race

In the battle of waterfront towns, Newport, R.I., has beaten Baltimore for the right to host the only U.S. stopover of the around-the-world Volvo Ocean Race in 2015.

Volvo race CEO Knut Frostad and other officials were on their way to Providence for a Tuesday afternoon news conference at the Rhode Island State House. State officials have promised to spend more than $3 million to build a legacy sailing facility for the visit.

Ocean Racing USA, the Baltimore bidder, and other officials were informed of the decision in a conference call Friday. Neither the state nor the city had invested any money in the bid.

Baltimore hosted three of the global races, the last one in 2005-06. The two-week stopover attracted 350,000 visitors daily and was worth $40 million to the local economy, an economic study said.

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