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Posted: Thursday February 2, 2012 3:01PM ; Updated: Thursday February 2, 2012 3:02PM

NFL approves $200 million loan for 49ers stadium

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NFL Team Page

INDIANAPOLIS (AP) -- NFL owners have approved a $200 million loan to help the San Francisco 49ers build a stadium south of Santa Clara.

Owners approved another part of the funding package on Thursday. The team and Santa Clara announced in December that they'd received an $850 million loan to cover most of the estimated $1 billion cost.

The rest of the cost will be covered by the league's loan, a hotel tax and Santa Clara's redevelopment funds.

The 49ers have to address their current Candlestick Park lease with the city of San Francisco. It hopes to have the new, 67,000-seat stadium open for the 2015 season.

Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

 
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