It’s not the days and nights it sits empty that makes Levi’s one of the best stadiums in the country. It’s the events that fill its 65,000 seats. It is one of the best venues anywhere to view football, soccer or a special celebrity event.
Sell out performances have produced record crowds and record revenues for Santa Clara and for the stadium. About 40 percent of voters never thought the stadium would be profitable and yet it has produced millions for Santa Clara’s local economy.
While the City benefits directly from events and concessions, there is a critical component that is seldom mentioned or discussed publicly. This is the account known as the Demolition Account.
Levi’s Stadium is scheduled to be demolished after thirty years. Naysayers didn’t believe the stadium would make enough money to cover the debt, pay the performers, provide police and fire and have money left over for the demolition fund. Yet that is not the case. Not only has the stadium paid for itself, at this time there are millions in that demolition fund, and it is on schedule to be fully funded at the end of its useful life.
This is a huge compliment to Santa Clara.
Because Santa Clara’s stadium is such a terrific venue, world class performers like Taylor Swift, Elton John and the Rolling Stones are a sellout. Each of these performances provides millions for the City. Millions that go into various accounts including the general fund. In turn, these funds are used for City services for Santa Clara residents.
In addition, because the stadium has been so successful Santa Clara is ahead of schedule on its debt service. This is another bonus for residents. Levi’s has proven to be a successful project benefiting the City in providing funds for multiple and additional services.
Just think for a moment about the ancillary revenue generated by having Levi’s housed in Santa Clara. The City benefits from a portion of the tax on all the goods and services from parking to concessions to admission.
That money goes into the general fund, which helps pay for things like Santa Clara’s famous “clean up weekend,” which we just completed. All those items you have been wanting to get rid of were taken out of your hands and house by simply placing them on the curb. Just another reason you have to love Santa Clara.
Our city council and employees have worked hard to continue providing City services and benefits that make Santa Clara special. Thanks to them for their dedication, hard work and time invested.
The “Publisher” using his prerogative to publish his thoughts under the imprimatur of a masthead and he uses it to run an advertisement.
What an embarrassment you continue to be Miles.
It really comes down to the hatred of the San Francisco 49ers that the Gilmore cartel has. As a result of this hatred, the city has lost a lot of stadium events that would have brought money into the city and surrounding area. That’s the problem. Getting rid of the Gilmore cartel is the solution. We may be on the right track.
Jim,
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When were the curfew hours for the stadium set and who was mayor of Santa Clara when this was done?
Did I mention “curfew”? It must be the fourteen years it took you to depart from Buscher.
not sure the folks baking in the sun in the 400s sections would agree that its “one of the best venues anywhere to view football” ??
Tyler,
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Indeed only someone who is trying to write an advertisement for Levi’s stadium would declare it “one of the best stadiums in the country.” Nobody honest and knowledgeable would even rank it in the top 10 of NFL stadiums.
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It is what we have and we need to make the most of it but it is not even considered to be above average amongst NFL stadium experiences.