September 19, 2011
49ers "Affiliated Entity" Partnering On Acquisition Of Great America
San Francisco based JMA Ventures is in contract to purchasing California’s Great America amusement park in Santa Clara from Ohio-based Cedar Fair Entertainment Company for $70 million, and they're not acting alone in the acquistion:
An entity affiliated with the San Francisco 49ers has been working with JMA and is expected to partner with them in the acquisition of the theme park, which is located adjacent to the new Santa Clara stadium site. The acquisition will position the park for future long-term growth and clears the way for the new stadium project to move forward.
The San Francisco (for now) 49ers lease at Candlestick park runs until the end of 2015 with an option to leave a year early.
UPDATE: "Santa Clara Mayor Jamie Matthews told [the Mercury News] that the York family -- owners of the 49ers -- is investing in the purchase with JMA Ventures."
∙ Santa Clara Scores A Potential Stadium/Team As Measure J Passes [SocketSite]
∙ First And Goal For The
San Francisco Santa Clara 49ers Stadium [SocketSite]
∙ Four More Years For The 49ers At Candlestick [SocketSite]
First Published: September 19, 2011 8:15 AM
Comments from "Plugged In" Readers
Could you link to the source for this?
[Editor's Note: Our source is JMA.]
Posted by: Michael at September 19, 2011 10:31 AM
Here is a link http://www.mercurynews.com/breaking-news/ci_18928013
Posted by: jimmythekid at September 19, 2011 11:44 AM
Or we can just watch the Niners blow a game like yesterday. pure amusement!!!
How bout them cowboys!!!
Posted by: Cowboy FaN at September 19, 2011 1:32 PM
Wow, never saw that one coming...
I actually would like the 49ers to stay in SF for sentimental reasons as I am a resident. But purely on business reasons, the Santa Clara tax-payers were really bent over, for this stadium deal.
Said tax-payers will be shouldering this stadium for some time, meanwhile the Yorks, Montana and other folks will be laughing all the way to the bank...
For the life of me, I cannot understand how they agreed to this stadium being built.
Posted by: 49er San Franciscan at September 19, 2011 1:59 PM
Sad from a legacy perspective, but I could care less if we have a football team here.
Posted by: kg at September 19, 2011 3:40 PM
If a stadium in SE SF really and truly becomes a dead issue, how does that affect the overall redevelopment? That's what I'm interested in. Are any of the financing terms absolutely dependent upon a massive sports facility as an anchor tenant? Otherwise, yeah, SF gov't doesn't need the massive anchor that Santa Clara residents have voted for themselves. Look how well that Raiders stadium deal has worked out for Oakland/Alameda County.
Posted by: Average Joe at September 19, 2011 4:40 PM
20 years from now, after the Niners have left, Candlestick is finally demolished and Santa Clara taxpayers are cutting school & road maintenance budgets in order pay for their white elephant, San Franciscans will be thinking "Whew! We really dodged a bullet on that one!"
Posted by: GoBlueInSF at September 20, 2011 10:37 AM