John E. Ekdahl, mayor of Rumson, N.J., confirmed his interest to the Daily News yesterday in hosting the Dad Vail Regatta as Philadelphia officials and regatta organizers met to discuss the event's future as a Philadelphia institution.

According to Ekdahl, there were two factors as to why the 7,000-inhabitant town has offered to host the Dad Vail event, which takes place in early May and, as the largest college regatta in the country, draws thousands of athletes and spectators.

"First, the economic - it's a tremendous stimulus. . . . the hotels, restaurants, bars and convenience stores in our area will experience a big two-day bump in sales."

Another factor: Rumson's high school recently added a crew team.

"They just started on the Navesink River three years ago," said Ekdahl.

Hosting the regatta "will go a long way in promoting the visibility of the sport very quickly," he said.

The regatta, which has drawn thousands of rowers to the Schuylkill since 1953, has suffered in the last few years, according to Dad Vail Regatta Organizing Committee Chairman Jack Galloway.

Corporate sponsorships have fallen by 60 percent, he said, and the regatta's treasury has been heavily burdened by the $500,000 per-year cost of the event.

The cost last year included the $66,000-70,000 cost of Philadelphia city services like police, fire and EMS overtime. That number is more than double the figure from five years ago, according to a letter sent by regatta organizers to Philadelphia officials on Nov. 2.

Galloway and DVROC President Jim Hanna met with City Representative Melanie John-son and other Philly officials yesterday to discuss the regatta's fate.

"We talked about the history of the regatta, and how important it is to the city," Johnson said. "We'd love to have it here, since it's part of the fabric and life of the city of Philadelphia."

The citizens of Rumson, however, are putting their money where their mouth is.

Mayor Ekdahl said that backers from his town have already offered regatta organizers a $100,000 check to help cover race expenses, with a promise to raise another $150,000 from corporate sponsors.

City and regatta officials were unable to hammer out an agreement yesterday, but they hope to come to one next week, Johnson said.

"We're doing the best we can to look at every event and see where we can find savings," said Johnson, mentioning similar efforts the city had made with parades and other special events.

"Money is always part of the discussion," she said.