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Owners approve Loan for new 49ers stadium - Ingles

N.F.L. owners, in a brief meeting here Thursday, approved a $200 million loan for the San Francisco 49ers, who hope to soon break ground in Santa Clara, Calif., on a replacement for Candlestick Park.

The stadium, which would be across the street from the 49ers’ training facility, will probably cost about $1 billion and seat about 68,000 people. The rest of the project will be funded by an $850 million construction loan that Santa Clara approved in December.

“It’s huge,” the team’s owner, Jed York, said. “We’ve been working on this since 1997.”

Site preparation has already begun for the stadium, and it could be ready for the 2014 or 2015 season. The possibility remains that the Oakland Raiders – who are also badly in need of a new stadium – could share the stadium with the 49ers. That would solve one of the N.F.L.’s thorniest problems – all of its teams in California need new stadiums, and a new stadium will also have to be built In Los Angeles before a team moves there, but there is little support in the state for publicly-funded stadiums.

This article was written by Judy Battista and appeared in the New York Times.

Posted by Necesitamos Mas Football on 9:34 a. m.. Filed under . You can follow any responses to this entry through the RSS 2.0

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