While the San Francisco 49ers were gearing up to clinch the NFC West, Santa Clara Mayor Jamie Matthews was confessing to the Chronicle on Saturday that he is just, "not that interested in football." On the other hand, Mayor Matthews is definitely interested in the $850 million dollar bank loan his town has secured from Goldman Sachs, Bank of America/Merrill Lynch, and U.S. Bank. (Evil 1% banks, the lot of them.)
The rest of the money to cover the $1.02 billion cost of completing the new stadium in what used to be a parking lot for the Great America amusement park is expected to come from the NFL, a hotel tax and possibly some redevelopment funds. The team has already agreed to pay $30 million a year in rent to make the new stadium their home. Assuming the team sticks around long enough, the bank loan will be repaid in 25 years.
Upon hearing about Matthews' lacking enthusiasm for the gridiron, thousands of San Franciscans replied that they were, "not all that interested in Santa Clara."
[Chron]