Originally posted by 9erReign:The team doesn't get any of the SBL money. It is basically paying back the city.
I thought they were paying Santa Clara back the $850 million with $30 million per year payments but now I see that they are going to let Santa Clara use the SBL (but not the suite money) to pay off the $450 million that the city owes by 2015.
Originally posted by Marvin49:
Privately funded just means "not publically funded". IE, not built with Taxpayer money. SBLs would count as private financing. Cities don't want to foot the bill anymore. NFL teams have been turning to PSLs/SBLs for years now to get these buildings built. I don't understand why peeps are so surprised. It isn't like it was ever going to be some other way.
In fact, the SBLs are cheaper than I thought they would be for standard seats.
Your issue as that teams charge the money "because they can get it"? Uh...welcome to capitolism. Thats kinda true of everything ever.
I like the fact that it that the city has a decent chance to eventually recoup most of the money that it borrowed to build the stadium but it isn't privately financed like Pac Bell was privately financed.
I have no problem with capitalism or with owners charging as much as the market will bear. $2k isn't all that bad for upper deck between the 30s tickets. If I was interested in watching that many games in the stadium I would have scraped it together and made it happen but I prefer to watch NFL games on television.