49ers, Santa Clara secure financing for new stadium

[Upton]

A major hurdle in the effort for the 49ers and Santa Clara to build a new 68,500-seat stadium has been cleared. Three banks have promised to lend a combined $850 million to help pay for the construction of the voter-approved 49ers stadium in Santa Clara, city officials announced Friday.

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The funds will be paid back through 49ers ticket sales, naming rights for the new stadium, and rent the organization will pay the city. The NFL is expected to contribute approximately $150 million.

Santa Clara's redevelopment agency, if available, will add $40 million and another $35 million will come from a local hotel tax. Santa Clara voters approved the term sheet for the stadium in June 2010.

The 49ers have targeted the 2014 season for moving out of dilapidated Candlestick Park in San Francisco for their proposed new home in Santa Clara, located across the street from the team's offices and practice facility.

http://www.csnbayarea.com/blog/niners-talk/post/49ers-Santa-Clara-secure-financing-for-s?blockID=604816&feedID=2539&utm_source=feedburner&utm_medium=feed&utm_campaign=Feed%3A+csnbayarea_topstories+%28CSNBayArea.com+Top+Stories%29

I know a lot of people think it's some kind of sacrilege for the 49ers to move out of San Francisco, but the proposed stadium would be only about 35-40 miles down the road. The 49ers need a new stadium and the city hasn't exactly been accommodating over the years whenever the subject has been brought up. I hope this gets done...You never know, it might actually happen..

[trotsky]

1. I for one welcome the new Santa Clara Farty-Whiners to the NFL.

[Auggie]

2. WTF?

Whiners? Everyone else calls them

WINNERS

9-2. Call it like it is trotsky

[madinmaryland]

3. It's the fans that are the "whiners", Auggie.

:P

[Auggie]

4. I haven't heard a good whine in a while...

unless it was Upton over the Thanksgiving schedule. And I happen to agree.

[madinmaryland]

7. What was wrong with the Thanksgiving schedule this year?? Three great games

of which I saw none. BTW, the forty-whiner fan that gave us that phrase has been pretty quiet this year. He and his missing sidekick!!

:hi:

[El Supremo]

8. We have it right here in documented form....

Mad in Maryland missed a Cowboys game. What a fan! Hell, even I caught part of the Miami game. You gonna miss the next one too?

:eyes:

[madinmaryland]

9. ...

A choice between that once every six month opportunity...

:evilgrin:

[El Supremo]

10. What? Sex with your wife?

:rofl:

[HuckleB]

5. "Only 35-40 miles down the road?"

That's right. Let's keep killing the environment with more sprawl, more miles and more traffic.

Fuck the 49ers.

No city should be "accommodating." The taxpayers should not be subsidizing these one-percenters.

[Upton]

6. What a hypocrite..

Aren't you a Brewers fan? Miller Park was financed with $290 million worth of public funds attained off an increase in the sales tax. Oh, and isn't the Brewers owner Bud Selig?

I'm sure you'll be renouncing your support for the Brewers anytime now, right?

Fuck your own 1%ers..