49ers Shop Naming Rights For New Santa Clara Stadium
SANTA CLARA (KCBS) - The San Francisco 49ers have two years to sell the naming rights to their new $937 million stadium now that the Santa Clara City Council has passed an agreement by a unanimous vote.
"We're going to get a bunch of money," said Santa Clara Mayor Jamie Matthews, who said that he expects the naming rights to go for as much as $700 million.
KCBS' Mike Colgan Reports:
"This is Silicon Valley. This is a real premium location, and a premium team, and I think that there will be a lot of people looking to invest in Santa Clara and their global image, because this will be a global location," said Matthews.
In the hallway outside the meeting, after it ended, there was a disagreement between stadium subsidy opponent Bill Bailey and 49ers spokeswoman Lisa Lang about how much of the proceeds would go towards building the stadium.
"You're giving yourself the out by allowing yourself to conclude your own agreement with the naming rights sponsor. We do not get 100 percent of that money," said Bailey."
Lang asserted all of the money from naming rights would go to the stadium authority for the sole purpose of building the stadium, a view also shared by city officials.
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