49ers move to Santa Clara not a sure thing

New stadium delayed "until there is a new CBA agreement that embraces the realities of NFL economics today"

The 49ers may be sticking around San Francisco longer than expected.
 
Ongoing labor negotiations between the National Football League and the players’ union has resulted in trouble securing the financing for the planned $937 million Santa Clara stadium, the team said Wednesday.
 
“Until there is a new collective bargaining agreement that embraces the realities of NFL economics today, the Santa Clara stadium project won’t attract the required funding from either the NFL clubs or the financial markets,” a statement from the 49ers said. “Since the financing plan needs to be in place several years before the
stadium opens, the planned 2014 opening date may be delayed by a year.”
 
Santa Clara voters approved the 68,500-seat stadium project in June, which includes public subsidies. The stadium would be built on a parking lot near the Great America theme park.
 
San Francisco tried to convince the 49ers not to leave The City — where they have played at Candlestick Park since 1971 — with a proposal for a new stadium as part of a greater redevelopment plan for the Bayview-Hunters Point neighborhoods. The team decided instead to pursue the Santa Clara stadium.
 
“Without a [labor agreement] that adequately recognizes the costs of new stadiums and other capital expenses required to generate revenue that largely goes to the players, the 49ers and the NFL cannot make a major investment in a new stadium at this time,” the 49ers said in a statement. “We are hopeful that an agreement can be reached with the union as soon as possible to facilitate the investment needed to move forward with this project.”
 
In a statement, the NFL said, “We are working hard to reach an agreement with the players’ union that will provide the resources once again for significant capital investments by the league in projects such as a new Bay Area stadium.”
 
The delay would mean the 49ers would continue playing in San Francisco for at least the 2014 season before moving to Santa Clara in 2015. The team’s lease for Candlestick expires after the 2012 season, but the team has two five-year options it can exercise.
 
And should the team reconsider its move, the Mayor’s Office says the door remains open.
 
“We’ve always believed the stadium plan sold to Santa Clara voters was built on shaky financial ground,” Mayor Gavin Newsom’s spokesman Tony Winnicker said. “In contrast, the 49ers’ ownership could start working with San Francisco today to build a new world-class stadium at Hunters Point, where all the approvals are already in place and the developer is ready to step up with $100 million in financing to help.”
 

 

Share this