SAN FRANCISCO (KCBS) – The Santa Clara City Council approved the financing plan for a new 49ers stadium Tuesday night. John Madden told the KCBS morning crew Wednesday that there are still some issues to be resolved.
“The thing that doesn’t make sense to me is, if you pay over a billion dollars to build a facility…somehow you have to earn more money off of that than you pay out. I mean…you only have ten events there a year, how can that work?”
The 49ers are counting on a $150 million investment from the NFL to help complete the deal. Will the NFL insist that the 49ers share the stadium with the Raiders?
“I don’t know that they can insist,” John said. “I think they would kind of push toward that, because they both have a problem. Both the 49ers and the Raiders need a new stadium. So that would help solve it. I don’t think it would be a petty thing like ‘oh, the Raiders and the 49ers could never get together and get along.’ That’s a bunch of baloney.” (8:10)
Listen to the John Madden segment live weekday mornings at 8:15 on KCBS All News 740 AM/106.9 FM.
(Copyright 2011 by CBS San Francisco. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed.)