From Latitude 38:

How Much Do You Wanna Bet . . .
Coutts also has two important things to consider. The first is that if the rumors are true, one or more European countries are offering big money to land the event, and let's face it, Coutts is not running a charity. The second is not pissing off his constituents — the professional sailors — who would be paying about 28% more income tax if the event were in the U.S. than they would pay working under the 12% cap on income tax that was present in Valencia for the 32nd match. Don't kid yourself into thinking this isn't a significant concern for someone like Coutts — he would be giving up a pretty significant chunk of change himself if the rumours of his salary being in the multiple seven figures range are true.