The San Francisco 49ers ended negotiations with the city about building a new stadium and plan to move to either Santa Clara or somewhere else in California, The Associated Press learned Wednesday night.
Owner John York notified Mayor Gavin Newsom of the team’s decision earlier Wednesday, a city official close to the negotiations told The AP on condition of anonymity because no announcement had been made.
The sides had been talking over the last few months about building a privately financed stadium at Candlestick Point that was going to be part of the city’s bid for the 2016 summer Olympics.
The team’s current lease at Candlestick runs through the 2008 season and the team holds three five-year options that could extend it through 2023.
The current stadium at Candlestick (above) is one of the most run-down in the league, leading the team’s desire to seek a new stadium with revenue-generation suites and luxury boxes. The plan to build a stadium also included public housing, retail and office space.
The city was not going to contribute any money to the stadium but was willing to possibly help with some of the infrastructure costs.