After a "rocky year trying to raise money to build a nearly $1 billion stadium in Santa Clara, the 49ers have scored their biggest victory to date: $138 million in recently sold luxury boxes," according to Mike Rosenberg of the SAN JOSE MERCURY NEWS. The sale is a “sorely-needed touchdown for the local football franchise, already dealing with a yearlong delay to its stadium construction, the NFL lockout and the pending death of redevelopment agencies, which jeopardizes its funding plan.” The money “more than doubles the total funding committed so far and puts the team and city about one-fourth of the way toward bankrolling” the $987M project next to the Great America theme park. Construction is expected to start in January '13. 49ers COO Paraag Marathe “would not say how much the suites cost or how many have sold, but he noted there are still boxes available.” The 49ers teamed with “Legends Hospitality -- the same firm that helped sell suites in the new Cowboys and Yankee stadiums -- to sell luxury boxes for the Santa Clara stadium.” Santa Clara Mayor Jamie Matthews said that the results so far “have exceeded his expectations.” The Santa Clara City Council and public “are scheduled to receive a presentation on the suite sales” at a Tuesday meeting. The council at the meeting also is “scheduled to give the 49ers permission for more detailed design studies and will enter an agreement with Volume Services to obtain input on designing the concessions and merchandise areas of the stadium.” In addition, the council is “set to approve a contract with New Jersey-based Legends to sell stadium builders licenses and another deal with the 49ers to market the licenses” (SAN JOSE MERCURY NEWS, 7/1).
FOOD FOR THOUGHT: Centerplate, pending city review and approval, has been selected to operate food and merchandise for the 49ers’ proposed stadium in Santa Clara. The terms cover an initial five-year contract and five two-year options to renew, plus a consulting deal prior to the stadium’s opening. The 49ers are targeting April 30, 2015, to open the facility, but with financing still not completed, there are “no guarantees” it will be completed by that date, according to the RFP issued by the Santa Clara Stadium Authority. City officials will meet Tuesday to review the authority’s recommendation for Centerplate to be awarded the contract. Centerplate is the 49ers’ current food and retail provider at Candlestick Park and runs general concessions at AT&T Park, home of the Giants. Legends, the sports concessions company co-owned by the Cowboys, Yankees and two private equity firms, was among the finalists for the 49ers’ food and merchandise deal. Delaware North Sportservice and Levy Restaurants were also on the short list (Don Muret, SportsBusiness Journal).
