During Super Bowl week in Indianapolis, NFL owners voted 30-1, granting the 49ers a $200 million loan, geared at assisting in funding construction of the approximately $1.02 billion 49ers stadium project.
“With the NFL’s muscle now behind the new stadium, we are moving forward,” said Jed York, CEO of the 49ers. “I expect an official groundbreaking ceremony very soon. Get your hard hats ready; we are embarking on the path to the next generation of 49ers football.”
Site preparation work began in January, with an official groundbreaking expected in the next few months.
“Today’s vote is an important milestone for the 49ers and their fans,” said NFL Commissioner Roger Goodell. “It is a solid endorsement that adds to the strong support of the South Bay community. This step will allow the 49ers to move forward toward making the dream of a new stadium a reality.”
The 1.85 million square foot facility will seat approximately 68,500 and feature 165 luxury suites and 9,000 club seats, designed with multi-purpose flexibility to host an array of events including international soccer, college football, motocross, concerts and civic events and is expandable for major events such as the Super Bowl.