49ers PSLs nearing sellout, everybody can breathe easier about stadium debt

You can upgrade the San Francisco 49ers‘ seat-license sales count from “most of them” to “pretty much all of them“:

The team disclosed late Friday it has sold more than 95 percent of the seat licenses at the nearly 70,000-capacity Levi’s Stadium — up from 75 percent a year ago and 50 percent a year and a half ago. The seat licenses, which are new for the 49ers, cost $2,000 to $80,000 apiece and give fans the right to buy season tickets.

The total value of the purchased seats is believed to be roughly half a billion dollars, which Santa Clara uses to help pay for the $1.3 billion stadium, though most of the cash will be paid over time in installments.

As we’ve covered before, the healthy PSL sales mean that pretty much everyone is going to come out looking okay from the 49ers stadium deal: Santa Clara doesn’t have to worry about repaying its stadium debt, while the 49ers are reportedly set to make money hand over fist. (Federal taxpayers have to take the hit from that $120 million tax subsidy for the PSLs, but that’s the IRS’s problem for not closing that loophole. Or Congress’s, I guess.) We finally have a model for a successful stadium project, then: Build it in a market where you have a fan base rabid and rich enough that they’re willing to pay anything for a chance to buy tickets, and where naming-rights fees run into the eight digits, and you’re all set. Too bad everybody can’t play in the Bay Area