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.
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