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News Release: Santa Clara and 49ers Reach Settlement

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NEWS RELEASE





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*FOR IMMEDIATE RELEASE:* Thursday, May 23, 2024  

*CONTACTS: *Janine De la Vega, PIO/Director of Communications, 408-615-5522 or jdelavega@santaclaraca.gov <jdelavega@Santaclaraca.gov>  






Levi's Stadium
*Santa Clara and 49ers Reach Settlement*

"Agreement Resolves Long-Standing Disputes  "

*"SANTA CLARA, Calif."* – The Santa Clara Stadium Authority and the San Francisco 49ers have reached an agreement to resolve long-standing disputes related to public safety expenses, buffet costs for Legacy seat license holders, and other items related to operations at Levi's® Stadium, which is on City land and is owned by the Stadium Authority (a public entity, governed by Santa Clara officials).

The Settlement Agreement includes many benefits to the City and Stadium Authority. The Agreement reduces the amount that the Stadium Authority owes the 49ers by $7.5 million (from $22.3M to $14.8M) and provides payment of $7.1 million in Performance Rent to the City of Santa Clara. The settlement also amends various agreements resulting in new revenue to the City of Santa Clara on an annual basis (estimated at $2.8M next fiscal year, FY 2024-25). Based on agreements signed more than 10 years ago, the 49ers pay the City for public safety costs for NFL games and then the Stadium Authority reimburses the 49ers for a portion of those costs. This deal reduces the Stadium Authority’s reimbursement obligations by $108,000 per game and adds an additional $4 per ticket surcharge to non-NFL events to help offset the Stadium Authority’s commitment to fund a portion of NFL public safety.

"We believe the Settlement Agreement addresses key concerns and provides a fair and advantageous resolution for the Stadium Authority and Santa Clara residents," said Jōvan D. Grogan, Executive Director of the Stadium Authority and Santa Clara City Manager. "By settling this dispute and restructuring terms in the original agreements that helped bring the 49ers to Santa Clara, we were able to achieve both immediate and long-term financial benefits for the City of Santa Clara. As a result of the Settlement Agreement, we project that Santa Clara’s general fund will receive $20M in total revenue from Levi's® Stadium over the next two years."

The Settlement Agreement is between the Santa Clara Stadium Authority (“SCSA”), City of Santa Clara, and various entities related to the San Francisco 49ers’, notably the Forty Niners SC Stadium Company LLC (“StadCo”) and Forty Niners Stadium Management Company LLC.

View the full signed Settlement Agreement and Mutual Release. [ https://www.santaclaraca.gov/home/showdocument?id=84022&t=638520845556338471 ]

Amendments to the Stadium Lease, Ground Lease, and other agreements related to the settlement terms are scheduled for action by the Stadium Authority and City at a concurrent meeting of the Santa Clara City Council on May 28, 2024 at 7 p.m.






*About the Santa Clara Stadium Authority
*The Santa Clara Stadium Authority exists as a public body, separate and distinct from the City of Santa Clara, and was established to provide for the development and operation of Levi's® Stadium. The elected members of the City Council serve as the governing board for the Authority, with the Mayor serving as chair, the City Manager as the Executive Director, and the City Attorney as the Authority’s General Counsel. Levi’s® Stadium, the region’s premier sports and entertainment venue, is home to the San Francisco 49ers and future host site of Super Bowl LX and FIFA World Cup in 2026. For more information, visit SantaClaraCA.gov/StadiumAuthority [ https://urldefense.com/v3/__https:/www.santaclaraca.gov/our-city/santa-clara-stadium-authority__;!!D9ZJbLq2ABL8!FijmlITMFprSlMe8OFErEMCkQ4OpHefUhbtVHFjnW-hFcYU6K4Tk8Cs_Y1TWiLn3l5c4czfj3_HAJhJFsEFKXls%24 ].

*About the City of Santa Clara
*Located at the heart of Silicon Valley about 45 miles south of San Francisco, the City of Santa Clara truly is “The Center of What’s Possible.” Incorporated in 1852, Santa Clara covers an area of 19.3 square miles with an estimated population of 129,498. Santa Clara is home to an extraordinary array of high-tech companies, including Applied Materials, AMD, Hewlett-Packard, Intel, Nvidia, Oracle, and Ericsson. The City of Santa Clara is also home to Santa Clara University, California’s Great America Theme Park, and Levi’s® Stadium, home of the San Francisco 49ers and future host site of Super Bowl LX and FIFA World Cup in 2026. For more information, visit SantaClaraCA.gov [ http://www.SantaClaraCA.gov ].






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