49ers' New Stadium Relies on Record Loans

Mayor Ed Lee says move is all but a done deal but there may be more to it than that.

By Sajid Farooq
|  Tuesday, Dec 6, 2011  |  Updated 12:04 PM PDT
View Comments (
)
|
Email
|
Print
49ers 2011 Camp in Pictures

The proposed 49ers stadium in Santa Clara.

Photos and Videos
More Photos and Videos

San Francisco Mayor Ed Lee says the 49ers move to a new stadium in Santa Clara is a done deal but that is far from the truth.

A more accurate statement may be that Jim Harbaugh's days leading a team onto the field at Candlestick Park may be numbered.

The 49ers $1 billion move down the 101 requires a record loan to get the stadium up and running, according to a report in The San Jose Mercury News.

About $850 million of that price tag will come in the form of a loan from Goldman Sachs, Bank of America-Merrill Lynch and U.S. Bank.

While Lee publicly is not expressing much optimism that the City will be able to keep the suddenly resurgent 49ers in town, he is scheduled to meet with 49ers' President and CEO Jed York Thursday.

The new stadium is expected to be completed in either 2014 or 2015 and it will seat 68,500 people.

Get the latest headlines sent to your inbox!
View Comments (
)
|
Email
|
Print
Leave Comments
Bay Area Proud
Bay Area Proud is NBC Bay... Read more
Follow Us
Sign up to receive news and updates that matter to you.
Send Us Your Story Tips
Check Out