Santa Clara To Vote On Largest Stadium Financing Deal In NFL History

SANTA CLARA (KCBS) - Approval of an $850 million loan package that goes before the Santa Clara City Council on Tuesday night would pave the way for construction of a new 49ers Stadium in 2012.

Opponents of the stadium have pointed out the financing deal with Goldman Sachs, Bank of America-Merrill Lynch and U.S. Bank far exceeds plan approved by voters under Measure J in 2010.

KCBS' Matt Bigler Reports:

The National Football League has pledged $150 million to the Santa Clara Stadium Authority to handle any overrun on construction costs now projected at more than $1 billion.

The stadium will bring money into the city, said Guy McIntyre, the former offensive lineman who helped bring the team to 3 Super Bowls and 5 Pro Bowls.

"With new stadiums usually come Super Bowls. That helps the community at large and it helps the economy at large," he said.

McIntyre, now in charge of alumni relations for the 49ers, said the Santa Clara facility could also easily accommodate the rival Raiders.

"We don't play on the same day. We don't play at the same time," he said.

Santa Clara Plays Fair, a group critical of the stadium deal, has argued the project is larger than disclosed by the city and the team and will wind up leaving Santa Clara in debt.

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