Why are 49ers borrowing $120M? San Francisco planning big move with one eye on Super Bowl
The San Francisco 49ers are reportedly set to make massive upgrades to their Levi's Stadium over the next three years.
The five-time Super Bowl winners are borrowing $120 million from the NFL's stadium fund to upgrade premium seating and scoreboards ahead of hosting the 2026 FIFA World Cup games.
The stadium will be one of the 11 to host games at the grand event. It is also believed that the Niners are hoping to host the Super Bowl that year and the franchise wants to win the Lombardi Trophy in front of their home fans.
Levi's Stadium was opened on July 17, 2014. The arena is entering its 10th season and San Francisco wants its stadium to be a destination for major events, which increasingly require an upgraded VIP experience.
Reports also suggest that there will be nine more suites added to the stadium as part of the rebuilding, adding up to 179 in total. The renovation of the suites will include the installation of custom and lockable wine fridges, a custom and lockable liquor cabinet, upgrading the seating, and custom shelving to display the license holders’ products and services.
The 49ers already generate plenty of revenue from their stadium due to their high ticket prices. However, additional funds for investment will put the franchise among the top-earning teams in the league.
The renovation of Levi's Stadium will begin after the 2023 season.
How did the San Francisco 49ers fare in the 2022 season?
The San Francisco 49ers had to deal with season-ending injuries to Trey Lance and Jimmy Garoppolo early in the regular season. However, third-string quarterback Brock Purdy stepped up to help the team to a 13-5 record, clinching their divisional title.
The Niners took down Geno Smith and the Seattle Seahawks in the wild-card round. Kyle Shanahan's side also got the better of the Dallas Cowboys in the divisional round.
However, they were eliminated from the postseason by the Philadelphia Eagles in the NFC championship game.
The Niners were just one win away from reaching the Super Bowl. However, the team will be looking to build on last season and push for a championship run in 2023.