The San Francisco 49ers and the powers-that-be in Santa Clara recently lined up $850 million in loans for the construction of a new stadium. On Tuesday night, the Santa Clara Stadium Authority voted unanimously to approve the loans.
Also approved was a 40-year lease agreement between the team and the city.
The 68,500-seat stadium has an estimated cost of $1 billion. Construction could begin as soon as 2012.
It would make sense for the 49ers and the Raiders to seriously consider sharing the new stadium. It’s unknown whether the Raiders would be interested in joining the 49ers in their soon-to-be-now Santa Clara home.