By Khalida Sarwari
The National Football League today approved a $200 million loan to fund the construction of the $1 billion San Francisco 49ers stadium in Santa Clara.
The approval marks the final financing step before construction of the 68,000-seat stadium next to the Great America theme park can get under way later this year.
In December, the Santa Clara Stadium Authority unanimously approved an $850 million bank loan for the stadium.
“Today’s vote is an important milestone for the 49ers and their fans,” NFL Commissioner Roger Goodell said in a statement. “This step will allow the 49ers to move forward toward making the dream of a new stadium a reality.”
The 49ers are the first franchise to benefit from a new stadium fund that was added in the collective bargaining agreement with NFL players last year, according to the team.
