Stadium Lease
The Stadium Lease is between the Santa Clara Stadium Authority and Forty Niners Stadium, LLC. It has a term of 40 years and can be renewed for another 20 years. The Stadium Lease year will be divided in half:
- NFL Season (August 1st to January 31st)
- Off Season (February 1st to July 31st)
Forty Niners Stadium, LLC will be responsible for the stadium operating costs during the NFL Season and the Santa Clara Stadium Authority will be responsible for stadium operating costs during the Off Season. Forty Niners Stadium, LLC will pay rent for the use of the stadium, which is referred to as Facility Rent. The exact amount of the Facility Rent has not yet been established as it will be based on stadium expenses, and those have not been fully determined.
Ground Lease
Team Lease
2nd Team Sublease
Santa Clara 49ers Stadium leases
40 to 60 year Santa Clara San Francisco 49ers stadium leases
The stadium site (aka ground site)
will be owned by the
city of Santa Clara, who will lease it to the
Santa Clara Stadium Authority under what is called the
ground lease in the term sheet.
The Santa Clara Stadium Authority will then lease the stadium to the
Forty Niners Stadium, LLC, in what the term sheet calls the
stadium lease. The Forty Niners Stadium, LLC will lease the stadium to the
San Francisco Forty Niners, LTD in what is referred to as the
team sublease. At their discretion, Forty Niners Stadium, LLC can also lease the stadium to the
Oakland Raiders, the 2nd team sublease.
The Ground Lease, Stadium Lease and Team Sublease all have the same term: 40 years minimum, with 5 options to renew for another 4 years - bringing the maximum lease period to 60 years. Forty Niners Stadium, LLC has the option as to whether they want to exercise a lease extension or terminate the leases. The 2nd Team Sublease, while controlled by the Forty Niners Stadium, LLC, is supposed to be subject to the same terms as the Stadium Lease, but presumably that does not include the 40 year term. Section 16.2 of the term sheet even talks about a temporary 2nd team sublease of up to 3 NFL seasons while the Oakland Raiders wait for a new stadium to be built.
