49ers' New Stadium Relies on Record Loans - NBC Bay Area

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.



    49ers' New Stadium Relies on Record Loans
    The proposed 49ers stadium in Santa Clara.

    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.