Uploaded by videosuss on Jan 16, 2012
San Francisco radio host Brian Sussman (KSFO) explains why the new 49er football stadium is a ripoff. By the way, the city of Santa Clara gets a pathetic 23 cents from every ticket sold. There is no firm revenue stream to allow the city of 100,000 residents to payoff the $850 million loan from Goldman Sachs. And, currently, the plans only guarantee 7,000 parking spaces. Sussman says this plan will bankrupt the city of Santa Clara.
I am the only person in the San Francisco media to report this story properly. The new 49ers stadium is a total ripoff. And I'll explain why. I have four seats in Candlestick Park on the thirty yard line. Those comparable seats at the new stadium would cost me $160,000 dollars just for the seat licenses. A hundred and sixty thousand dollars. All of the fans in my area have said forget it, we can't afford this new stadium. So who's gonna be buying these new seat licenses? It's gonna be businesses, corporations, extremely wealthy people of the Silicon Valley; they're totally wiping out their fan base. But I guess they really don't care. And that's also their right. But the people of Santa Clara, the city of Santa Clara, totally got suckered on this. At the end of the day, if you dig into the details, again I'm the only person apparently who's done this, the 49ers don't put in a penny. It's a 1.2 billion dollar stadium, they don't put in a penny. In the meantime the NFL puts in $150 million dollars, that's for the luxury boxes. And they get all the proceeds from the luxury boxes. The people of the city of Santa Clara are on the hook for $150 million dollars and a loan from Goldman Sachs. And we don't even know what the interest rate is. You have a hundred thousand people in that city. This is gonna bankrupt the city. This is gonna obliterate the fan base, but hey, Niners got a great ball club. What can I say?
