The San Francisco 49ers hope to build a new stadium in Santa Clara, California. Though the project still has a long way to go, the team has lined up commitments for a significant amount of luxury suites.
A very significant amount of luxury suites.
According to Mike Rosenberg of the San Jose Mercury News (via SportsBusiness Daily), the Niners have sold $138 million in luxury suites. “These remarkable sale results should answer anyone who asks if the stadium in Santa Clara will be a reality,” Mayor Jamie Matthews said Thursday, per Rosenberg.
“It validates the confidence we’ve had in the project all along,” 49ers COO Paraag Marathe said, “and it shows the tremendous amount of support and confidence that our fans have for this project. One hundred and thirty-eight million is no small number; it lays a pretty big foundation.”
Most buyers have made long-term commitments. Their names have not yet been disclosed; the majority are individuals, and some are companies.
The development doesn’t guarantee that the stadium will be built, but it helps.
Image provided by the 49ers, via the Mercury News.