SF Mayor: 49ers move to Santa Clara all but assured

SAN FRANCISCO (AP) – San Francisco Mayor Ed Lee says the 49ers move to a new stadium in Santa Clara is all but assured now that the team and the City of Santa Clara have secured $850 million in funding for the project. The San Francisco Chronicle reports that Lee is scheduled to meet with 49ers’ owner Jed York on Thursday. But the mayor says the deal to move the team to Santa Clara appears close to done, and persuading York to stay in San Francisco would be very difficult. The team and City of Santa Clara announced last week that Goldman Sachs, Bank of America-Merrill Lynch and U.S. Bank had agreed to an $850 million loan for the estimated $1 billion new stadium. One of two public hearings on the loan is scheduled for 7 p.m. Tuesday at Santa Clara City Hall.

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One Response

  1. Tonight City Hall, See You There.

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