NFL Owners Approve $200 Million Loan for 49ers Stadium

The San Francisco 49ers were only a play or two away from making it to the Super Bowl. But the team received some very positive news out of Indianapolis on Thursday regarding funding for a new stadium.

National Football League owners approved a $200 million loan to help the team build a new stadium in Santa Clara. 49ers President and CEO Jed York said this move finalizes financing for the proposed $1 billion stadium next to the Great America theme park.

In December, the Santa Clara Stadium Authority approved an $850 million bank loan for the stadium. The rest of the cost will be covered by the league loan, a hotel tax and Santa Clara’s redevelopment funds.

“Today’s vote is an important milestone for the 49ers and their fans,” NFL Commissioner Roger Goodell said in a statement. “This step will allow the 49ers to move forward toward making the dream of a new stadium a reality.”

The team still has to address its current Candlestick Park lease with the city of San Francisco but York said all signs point to having the 67,000-seat stadium open and ready for the 2015 season.

Photo Credit: www.49ers.com

It's simple. Keith Mizuguchi loves to write and write and write some more. After taking a hiatus from the journalism business, he has rekindled his passion for writing over the last two years, holding a job as both a web and on-air writer for San Francisco news radio station KCBS. While he enjoys the news business, his true passions are twofold: sports and food. Bay Area born and raised, he lives in San Jose, commutes to SF and loves every minute of it. You can follow his food adventures on Twitter @foodie_keith.