Santa Clara Says Yes to 49ers Stadium

Team could begin play by 2014.

By Sajid Farooq
|  Wednesday, Dec 14, 2011  |  Updated 8:12 AM PDT
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Santa Clara Says Yes to 49ers Stadium

The proposed 49ers stadium in Santa Clara.

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The San Francisco 49ers took another step Tuesday night towards a permanent move to Santa Clara.

The Santa Clara City Council voted 7-0 to approve a plan to build a new stadium near Great America.

With the vote, the city council approved an $850 million loan from three banks to build the nearly $1 billion stadium.

"Tonight we got a virtual shovel in the ground," Mayor Jamie Matthews said, according to The San Francisco Chronicle.

But a large contingent of the plan still hinders on the 49ers being able to secure up to $150 million in funding from the National Football League towards the stadium.

The city would pay back the loan from revenues generated by the stadium, including ticket sales, over the next 25 years.

Santa Clara would also be expected to kick in another $114 million towards the stadium, which was approved by voters in 2010.

Construction on the stadium could begin in the next year, with the 49ers playing the first game in Santa Clara in 2014.

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