San Francisco 49ers team President Jed York announced yesterday a one year delay for opening a new stadium in Santa Clara. The earliest the Santa Clara site will open is in 2015. York said a major reason for the delay was because there is no collective bargaining agreement (CBA) between the NFL and the players.
“But without (a collective bargaining agreement) that adequately recognizes the costs of new stadiums and other capital expenses required to generate revenue that largely goes to the players, the 49ers and the NFL cannot make a major investment in a new stadium at this time.”
York’s statement tells me two things: First, a new CBA between the NFL and players is not coming anytime soon. I think the owners are not going to budge on any of their positions and are fully prepared for a lockout next year. That of course is unfortunate but this also gives York some cover for not being able to secure financing for the new stadium. If the financing is there, it’s there. The second thing his statement tells me is the financing…is not there! I would think anyone itching to be part of the investment team for the new stadium would want to commit money regardless of whether a season will be played in 2011. Yes, with no revenue steam you can’t determine exactly what you will make out of your investment but the NFL is a cash cow and no matter what agreement is reached with the new CBA the money will still flow. My hunch is that maybe potential investors who are 49er fans are not willing to part of moving the team out of San Francisco. But that’s just my hunch. I hope the investors York and company are seeking are 49er fans and not just someone looking to make money off the team. If the latter is the case that may explain why the financing has not been secured after York said the team would have no trouble coming up with hundreds of millions of dollars for the stadium.
York pointed out that no new stadiums have been approved under the current CBA that has been in place since 2006. I wonder if he knows that only three teams, 49ers, Raiders and Chargers, have tried securing a new stadium since 2006? What makes the 49ers different from the Raiders and Chargers is they have secured a site. And even with a site investors are staying away. The NFL cannot chip in for the new stadium because it has no money left in the stadium fund. We all knew this back in 2007 not recently when the owners said they would let the current CBA expire. It is only fitting the 49ers have two sites ready to build a new stadium on with the Chargers searching everywhere in San Diego county for a new site and the Raiders trying to avoid sharing a stadium with the 49ers. The San Francisco site part of the Hunters Point redevelopment project has secured the financing and is ready to be built. The Santa Clara site is just ready to be built but no money to pay for it. Just another example of York doing everything he can to move the 49ers out of San Francisco.