America’s Cup Site Will Be Revealed Wednesday

San Diego’s selection as the site of the next America’s Cup defense--probably in 1991, unless New Zealand forces one earlier--will be announced at a press conference at the San Diego Yacht Club Wednesday.

The decision, long a foregone conclusion, was cemented Monday, according to a source, when the city’s America’s Cup Task Force delivered a letter to the club’s America’s Cup Committee guaranteeing $10 million as the down payment for staging the defense.

Top officials from the club, the Sail America Foundation, the America’s Cup Committee and the Task Force are scheduled to participate in the press conference, although none would confirm Monday that San Diego had been chosen.

However, Fred Smales, chairman of the “Hawaii For the America’s Cup” campaign to bring the defense to the islands, reached by phone at Dana Point, said he knew his cause was lost when a new America’s Cup Committee was formed, by order of an arbitrator, and San Diego boat builder Gerry Driscoll was selected as chairman.

“Gerry’s an old crewmate of mine on (America’s Cup 12-meter) Columbia,” Smales said, “but he’s a dyed-in-the-wool San Diegan.”

Dave Hutchinson, a spokesman for the Task Force, said Hawaii was easily the strongest of several rivals. But all of them, including San Francisco, Miami, Texas, New Orleans and Newport, R.I., were advised last week to save their efforts until further notice.

The only matters remaining to be resolved are the dates for a ’91 defense and New Zealand’s challenge to race next June--not in a 12-meter but in a larger, faster boat with a 90-foot waterline, the largest allowed by the America’s Cup Deed of Gift. The latter issue may wind up before the New York State Supreme Court, which oversees the deed.