"It covers reimbursement for our costs as well as provides a financial backstop, It provides a very detailed and transparent process for reimbursement and advanced payments."
"This final vote confirms that Santa Clara will be able host two of the world's largest events in 2026, with no costs from the city's general fund, We look forward to working with the Bay Area Host Committee and Santa Clara to put on these historic events, which will generate an estimated $1 billion for the Bay Area economy next year."
Santa Clara City Council approved an agreement to reimburse the city an estimated $6.4 million in costs to host Super Bowl LX. The Bay Area Host Committee, a nonprofit formed in 2022, will cover the city's incurred expenses. StadCo, the San Francisco 49ers' stadium operations company, agreed to act as a financial backstop if the host committee cannot pay. The agreement provides detailed procedures for reimbursement and advanced payments and mirrors a similar deal for the 2026 FIFA World Cup. Santa Clara will host both events in 2026, though two council members voted against the agreement citing financial risk concerns.
Read at The Mercury News
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