Stadium Deal For Niners
The San Francisco 49ers announced that they'd agreed to a term sheet with the city of Santa Clara, Calif., for a $937 million, publicly owned stadium there. The agreement must be approved by the city council and Santa Clara voters. Under the deal, the city is responsible for $79 million of the cost. According to an announcement by the 49ers, another $35 million is to be raised by a fee charged to guests at hotels near the stadium, and the remainder of the cost is to be covered by the team, the NFL and stadium-authority revenue projects such as a naming rights deal. "After years of hard work, we're pleased to have reached an agreement with the city staff," team president Jed York said in a written statement released by the 49ers. "The stadium will make Santa Clara an even better place to live, work and play. Not only
