Gold Rush: 49ers' New Stadium 75% Sold Out As Revenue Reaches $800M
The 49ers have “sold three-fourths of the seats” at their new Santa Clara stadium “as the team prepares to transfer a huge cash infusion to the public agency building the stadium,” according to Mike Rosenberg of the SAN JOSE MERCURY NEWS. The 49ers said that fans and corporations have bought $403M worth of seats, which is "equal to the cost spent to build the stadium so far." The team added that they are "well ahead of schedule to sell out" before the '14 opening. The most expensive seats are “already sold out -- in the suite tower, where luxury boxes cost up to $500,000, and the $80,000 club seats at midfield.” Only the “cheaper seats behind the end zones and in the corners are left.” When adding suite sales, the total new revenue from the $1.2B stadium is “believed to be” more than $800M. Legends VP/Sales & Marketing Al Guido said that "about two thirds of the remaining 60-or-so suites that ring the stadium are still available.” The team “keeps the revenue from the luxury boxes,” which is “believed to be in the range" of $400M. Guido said that overall, three out of every five sections have “sold out" since the club seats went on sale a year ago. About 14,000 clients -- mostly “fans, with some companies -- have bought 46,100 seats in the 68,500-seat stadium.” About 1,000 seats “will be left unsold for single-game sales” (SAN JOSE MERCURY NEWS, 3/10). Guido in a statement said, "The education of potential buyers has played an integral role in our early success, and our stadium preview center is the greatest asset we have had in that regard" (49ers).