National Football League owners today approved $200 million in a G-4 loan that will be directed to fund construction costs for the new stadium in Santa Clara, the new home for the San Francisco 49ers. The approval is the last piece of financing needed for construction to begin on the stadium, and the 49ers are the first franchise to receive support from the new stadium fund that was crafted in the collective bargaining agreement with NFL players last year.
The new stadium in Santa Clara is estimated to cost approximately $1.02 billion. Officials expect it to be a landmark for Silicon Valley in addition to its role as the new home to the San Francisco 49ers. The 1.85 million square foot facility will seat approximately 68,500 and feature and expected 165 luxury suites and 9,000 club seats. It will be designed with multi-purpose flexibility to host a wide range of events including, domestic and international soccer, college football, motocross, concerts and various civic events, and is expandable for major events such as the Super Bowl.
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