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Santa Clara 49ers

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Yesterday at Santa Clara's City Council meeting the members approved a 40-year lease for the $1B stadium that the 49ers plan to build. The SF Examiner tells us that Santa Clara will receive $180,000 of rent in the first year of stadium operation, with $35,000 yearly increases for the first 10 years. Rent will be raised to $1 million in the 11th year, with increases of $100,000 every five years through the lease's initial term. The stadium could be open for business as early as the 2014 season. [SF Examiner]