The San Francisco 49ers have tentatively reached a compromise to extend their lease at Candlestick Park until at least 2014, a move that will bridge the gap until the team moves to a proposed stadium in Santa Clara, the San Francisco Chronicle reported Thursday night.
Team president Jed York and San Francisco Mayor Gavin Newsom reached the agreement this week, according to the newspaper. The deal, which still required approval of San Francisco's Recreation and Parks Commission and the Board of Supervisors, also settles a $60 million maintenance claim the team had filed against the city.
Had the 49ers renewed their lease at Candlestick Park, they would have been liable for five more years of rent, approximately $6 million per year. The team projects its new stadium will be open for the 2015 season.
The Niners will get rent credit for completing $6.5 million in lapsed maintenance work during the next two years that the city was obligated to handle, like repaving the parking lot, flood control work for the lot, replacing seats and fixing leaks in luxury suites. The team will get an additional $4 million to $6 million in either rent reduction or credit on the back end of the deal.
The sides have had a contentious relationship at times, with the team saying the city has failed to maintain Candlestick per the lease and that it was considering filing a lawsuit over the matter.
Lisa Lang, a team vice president, said the Niners are "pleased that our negotiations with the City of San Francisco have resulted in a tentative settlement regarding both our deferred maintenance and our lease extension."