The Associated Press (AP) has reported that Bermuda was chosen over San Diego to be the host location of the 2017 America’s Cup. The news service quoted an anonymous source that was privy to the decision.

The source said that software billionaire Larry Ellison of Oracle Corp made the decision after consulting with the CEO of Oracle Racing, Russell Coutts. Coutts is also director of the America’s Cup Event Authority.

Coutts declined to confirm the decision to the AP, saying he was under a non-disclosure agreement. The news service said that members of San Diego’s America’s Cup bid, as well as officials with the Port of San Diego also declined to comment for the same reason.

The news service said that officials in Bermuda also declined to comment. The America’s Cup Event Authority said today that it plans to hold a press conference on December 2 in New York City to announce the host location.