Sunday, February 7, 2010

49ers PR Campaign Hides the True Stadium Costs

Dear Santa Clarans,


In a June 3, 2009 interview on Chronicle Live, "49ers' President Jed York broke down the financial details of the team's proposed stadium deal with the City of Santa Clara," and acknowledged the true stadium construction costs:
























The $937 million stadium price tag includes $444 million from Santa Clara and its agencies as follows:

  • $114 million as a direct subsidy from Santa Clara (12%),
  • $330 million from Santa Clara's joint powers agency, the Stadium Authority (35%).
But since Jed York's interview, the 49ers PR campaign has lumped the $330 million from Santa Clara's Stadium Authority in with the team's contribution to inflate the team share to $823 million (88%). This misleading information has been mailed into our homes, appears on a 49ers stadium booster's website, and unfortunately has been reproduced in newspaper articles. In Jed York's online letter to 49ers fans, he reduces Santa Clara's share even further, from $444 million to only $79 million.

The $330 million from Santa Clara's Stadium Authority is not mentioned in either the 49ers stadium ballot initiative or in the text of the Term Sheet. Santa Clara's city council agenda reports and Term Sheet Exhibit 14 list the details of Santa Clara's $444 million contribution to the stadium.

Santa Clarans should be provided with complete and correct information about all of the stadium construction and operational costs.

Voters in Santa Clara have the right to know how much debt our city will incur, so we can make an informed decision without being misled about the total cost of a stadium to our city.


Submitted by Chris Koltermann,
Member of the Board, Santa Clara Plays Fair

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References:
1) The June 3, 2009 Chronicle Live interview of Jed York:
http://www.csnbayarea.com/pages/landing?blockID=57145

2) The Term Sheet, Exhibit 14, and City Presentation June 2, 2009:
http://santaclaraca.gov/ftp/csc/pdf/49ers-20090601-Exhibit-14.pdf
http://santaclaraca.gov/ftp/csc/pdf/49ers-20090601-term-sheet.pdf
http://santaclaraca.gov/ftp/csc/pdf/49ers-Term-Sheet-Presentation.pdf

3) The stadium ballot question and initiative:
http://sireweb.santaclaraca.gov/cache/2/ydxjb32taot0c245wxk2xpyj/15490702062010015454400.PDF


2 comments:

Anonymous said...

Too bad you guys couldn't show the voters this video of York presenting this correct chart.

Anonymous said...

See the first link at the end of the post; you can view the entire York interview there.

It's the pie chart that counts, though - note that the San Francisco 49ers can't even keep their stories straight.


Regards,
Bill Bailey,
Treasurer

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