The San Francisco 49ers are planning to make an intriguing $120 million decision aimed to make some improvements. Not for their roster and to help general manager John Lynch or head coach Kyle Shanahan, but for Levi’s Stadium.
First reported by Daniel Kaplan of The Athletic on Tuesday, March 28 at the site of the NFL Owner’s meeting in Arizona, the franchise is planning to borrow the $120 million from the league’s stadium fund for these reasons: Upgrading the premium seating and improving the scoreboards over the next three years in time for this next major sporting event coming to the Bay Area: The 2026 World Cup. But there’s more via Kaplan.
“The team could try to host Super Bowl 60 that year, too,” he writes.
First Phase of Getting the Approval Done Revealed
Kaplan unveiled what the proverbial step is to get Levi’s approved to make the upgrades.
“NFL owners are expected to vote on the funding Tuesday at the annual meeting in Scottsdale, Ariz., according to a copy of the agenda obtained by The Athletic,” Kaplan shared.
He adds one more NFL venue could get approval for some upgrades out in the AFC North.
“The owners are also voting on stadium funding for renovations to the Cincinnati Bengals’ Paycor Stadium,” Kaplan said.
From there, Kaplan outlined the reasons why the changes inside the 49ers’ venue come with importance for the team and the Bay Area.
“The move signals that the 49ers want their stadium to be a destination for major events, which increasingly require an upgraded VIP experience,” was the first outline from Kaplan.
Secondly, “The profits from the move will further solidify the team as one of the top two or three revenue teams in the NFL.”
Third: “The NFL may announce in May the sites for Super Bowls 60 and 61 in 2026 and 2027, respectively. The former is when Levi’s will host World Cup games, so the club is believed to want the NFL title tilt for that year.”
He concludes how Levi’s had a 10-year term when it came to having a suite license and “the upgrade of premium seating comes as many of the 10-year terms of suite licenses are expiring (some are 20-year terms)” as Kaplan stated.
Chief Revenue Officer Speaks Out About Potential Changes
Brent Schoeb, 49ers chief revenue officer, is involved in this process of obtaining the borrowing to make the desired changes. He shared with Kaplan what the vision is for the 49ers.
“We’re in the heart of Silicon Valley and the heart of the second largest concentration of Fortune 500 companies,” Schoeb said, the team’s chief revenue officer who has spent 11 years with the team. “Based on that segment’s feedback, they want a top tier VIP entertainment for their customers, and then also coming out of COVID for their employees, as well. So we certainly think we can increase the value proposition with all these renovations, which in turn will certainly help generate more revenue.”
And what could the suites look like? Schoeb told Kaplan that he also sees a vision for the suites additionally becoming mini executive briefing centers.
Finally, plans to start the renovation process would take place following the 2023 season.
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49ers Planning to Make Pivotal $120 Million Decision: Report