City, 49ers Reach an Agreement on Candlestick Lease Extension

credit: WholeWheatToast/CurbedSF flickr pool

The Rec and Park Commission approved the terms for an extension on the 49ers lease on Candlestick Park yesterday, making it possible for the team to play out home games in the Bayview through at least the end of the 2014 football season. Rather than create a new lease that would lock the team in to five more years of rent, the lease amendment allows the team to opt out of the last year - meaning the Niners can pack up and leave for Santa Clara in 2015 if they like. On the other hand, if Jed York and company decide to stick around (or if killing redevelopment in Sacramento halts the new stadium's development, perhaps), the team will be allowed to make yearly extensions until 2023. The lease amendment will also settle the $60 million maintenance claim the team was using to threaten the city with a lawsuit for not keeping up the facilities as promised.
· 49ers Candlestick lease extension moves forward [SFGate]
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