clock menu more-arrow no yes mobile

Filed under:

Wall Street Ripple: Stadiums Take a Hit

New, 1 comment

New stadiums planned for the San Francisco 49ers, San Jose Earthquakes and Oakland A's are all on the defensive as funds are drying up. Plans for the Quakes and the A's have already been scaled back, as -- yikes -- they were relying on capital raised by residential developments. With California so deeply in debt, the usual public stadium subsidies aren't so likely to show up, either, so it's time to pursue some other modes of fundraising: private investors, parking fees and naming rights. All insist they're forging ahead, but it remains to be seen if the $1.5 billion in projects will actually come to fruition on schedule, by 2012. The way things have been going (or not) around SF, we're going to go ahead and guess no. And the 49ers aren't so fond of that whole Hunter's Point deal... But then, there are some reassuring words from the A's and Quakes president: "The world's not coming to an end." Oh, well then!
· Will economy tank stadium plans for A's, 49ers, Earthquakes? [Mercury News]
· Wheelin' and Dealin': $2 Bill for Hunters Point, $100 Mill for the 49ers [Curbed SF]