The 49ers are a big step closer to moving from San Francisco to a new stadium about 45 miles south in Santa Clara.
The team and City of Santa Clara announced on Friday that they have secured long-awaited funding for the project. Goldman Sachs, Bank of America-Merrill Lynch and U.S. Bank have agreed to an $850 million loan with the city's stadium authority and the 49ers.
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The new NFL labor contract brings the 49ers’ stadium in Santa Clara closer to reality.
As team President Jed York pointed out in a conference call this week, the new collective bargaining agreement has a provision setting 1.5 percent of revenue aside for new stadiums. This is why the owners wanted a new deal reducing the players’ share, so they’d have money for new stadiums.
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San Francisco could benefit financially if the 49ers relocate to Santa Clara.
City supervisors and economic development staff on Monday discussed the financial implications of holding a spot open in a shipyard redevelopment project for a 49ers stadium.
A football stadium was long heralded by city and private industry officials as an anchor in redevelopment plans centered at the shuttered Hunters Point Naval Shipyard.
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San Francisco 49ers officials would have you believe that the NFL is fully behind their plans to build a new stadium in Santa Clara and ready to award them a Super Bowl as soon as its completed.
And if you believe that you may have taken as many blows to the head as Steve Young.
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URL: http://www.sfexaminer.com/topics/49ers-stadium
