Theres a post in the SailGP thread somewhere about Plymouth paid some money and provided free services far in excess of that (base areas etc).Plymouth managed to get one AC40 and two SailGP events because Russell Coutts knows that a UK event is important and Plymouth is the best venue for stadium sailing. I imagine the city paid a fraction of the hosting rights demanded from other venues with LE picking up the shortfall.
However thats SailGP where there are crowds of people on the hoe watching, crowds of people in boats and on the hills.
A GGR race start will not get that, so no tourism boost, so theres no way the council would pay any money for it...