The feasibility study is not done. No contract has been signed. But already the flip-flopping has begun. The issue is cost overruns, both during construction and operation of the stadium.
At a meeting with the community in May this year, SF 49ers Director of Strategic Planning Jed York tried
In September, a flyer distributed by the 49ers at the Art & Wine festival says the offer is still good:to convince skeptical Santa Clarans that they would not be exposed to financial risk, either during construction or once the stadium opens.
"The 49ers' risk is infinite," Jed York, son of 49ers owners John and Denise DeBartolo York, told church members and other city residents Wednesday night at a meeting at the Resurrection Lutheran Church. "In your doomsday scenarios, we are taking that risk."
No, there are absolutely no hidden costs. The city and its residents will not be responsible for cost overruns or operational shortfalls.Here is a picture of the flyer. Click on the image to see a close-up of the highlighted part:
Earlier this month, however, York took a giant step back from that claim. In an interview with Mark Purdy, a sportswriter for the Mercury News, York changed his mind about that willingness to assume all risks:
". . . if you're losing money, the 49ers are going to write a check to the city council at the end of the year to the city general fund to make up for any losses that occur at a football game.''
But since the 49ers only play at home 10 days a year, does that mean the city is on the hook for the other 355 days? What about maintenance costs? Will they be apportioned by the same ratio, i.e. the city is responsible for 97% of all maintenance cost overruns?
infinite, adj.
- Having no boundaries or limits.
- Immeasurably great or large; boundless.
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