Levi’s Stadium is owned by the Santa Clara Stadium Authority, a public entity created by the City of Santa Clara in 2011 to hold title to the building and the land beneath it. The San Francisco 49ers play there and run the venue day to day, but they are the tenant, not the owner. Legal title to the roughly $1.3 billion facility belongs to the public.1City of Santa Clara. About the Santa Clara Stadium Authority
What the Santa Clara Stadium Authority Is
The Stadium Authority is a joint powers authority, a legal structure that lets public agencies combine their powers to take on projects no single department could handle alone. It was established in 2011 for this specific purpose. Its core functions are to own the stadium, lease the underlying land from the City of Santa Clara through a long-term ground lease, issue bonds to finance construction, and lease the facility to the 49ers for professional football and other events.1City of Santa Clara. About the Santa Clara Stadium Authority
Because the authority holds legal title, it is the party that signs major leases, enters revenue-sharing agreements, and approves capital improvements. The structure also protects the stadium from private foreclosure. If the 49ers ever left or went bankrupt, the building and the land would remain public assets. Every significant structural upgrade or renovation requires the authority’s sign-off.
How the 49ers Fit In
The 49ers are the most visible presence at Levi’s Stadium and are often assumed to own it, but they function as the primary tenant. The team runs operations through a subsidiary called the Forty Niners Stadium Management Company, which handles security, turf maintenance, and the booking of concerts, international soccer matches, and corporate events.2Levi’s Stadium. Staff Directory Creating a separate entity walls off the team’s football operations from the liabilities of managing a 68,500-seat entertainment venue.
The management agreement gives the company the right to operate and profit from non-NFL events, with revenue split between the team and the public authority on negotiated terms. The company pays rent to the Stadium Authority for use of the facility while keeping control over how events are planned and executed. That lets the 49ers generate significant income from the venue without owning the real estate underneath it. Reporting on the arrangement indicates the team’s lease runs roughly 40 years, extending well past the original naming rights deal set to expire in 2033.
Where the City of Santa Clara Sits
The City of Santa Clara has a distinct legal identity from the Stadium Authority, even though the elected members of the city council serve as the authority’s governing board. When council members vote on stadium matters, they act in their capacity as authority board members, not as the city council. The arrangement creates a financial firewall: the authority’s structure ensures the city is not liable for the Stadium Authority’s debts or obligations.1City of Santa Clara. About the Santa Clara Stadium Authority
The promise that stadium costs would stay off the city’s general fund has held up. Stadium-related expenses are covered by stadium-generated revenues, not by tax dollars that fund police, fire, and library services. A 2024 civil grand jury found that this protection was achieved and that the funding structure worked as planned.3City of Santa Clara. Santa Clara City Council and Santa Clara Stadium Authority Board Official Response to 2024 Civil Grand Jury Report The city does lease the land under the stadium to the authority, but it is not the owner of the building itself.
Levi Strauss Is Not the Owner
Despite the name on the building, Levi Strauss has no ownership stake. In May 2013 the company proposed a 20-year, $220 million naming rights agreement to the Stadium Authority, paid in annual installments and set to expire after the 2033 NFL season.4Levi’s Stadium. Levi’s Stadium – Home of the San Francisco 49ers The agreement is a marketing expense for the apparel company, covering logo placement, signage, and promotional opportunities throughout the concourses and during televised broadcasts.
In January 2024, Levi Strauss and the 49ers announced a proposed 10-year extension worth a combined $170 million for naming rights and team sponsorship, which would keep the Levi’s name on the stadium through the 2043 NFL season pending approval by the Stadium Authority Board.5Levi Strauss & Co. LS&Co. Extends Levi’s Stadium Naming Rights and 49ers Partnership If the deal expires or the company walks away, the naming rights revert to the Stadium Authority, which can then shop for a new corporate partner.6ABC7 San Francisco. 49ers, Levi’s Agree to 10-Year, $170M Stadium Naming Rights Extension
How the Stadium Got Built and Who Paid
The ownership structure traces back to Measure J, which Santa Clara voters approved in June 2010 with about 58% of the vote. The measure authorized the city to lease public land for a professional football stadium and set several taxpayer protections: no city general fund or enterprise fund money could go toward construction, no new taxes on residents for the stadium, and the 49ers and NFL would cover any cost overruns.7Ballotpedia. Santa Clara Stadium for the 49ers, Measure J (June 2010)
The original deal was valued at $937 million, split roughly three ways. The 49ers and the NFL contributed about $493 million. The Stadium Authority contributed around $330 million through construction bonds and partnership deals. The city, its former redevelopment agency, hotel taxes, and the municipal power company contributed approximately $114 million combined.7Ballotpedia. Santa Clara Stadium for the 49ers, Measure J (June 2010) By mid-2013, total costs had risen to roughly $1.3 billion. A 2024 civil grand jury report confirmed the funding structure allowed the Stadium Authority to pay off construction loans and fund required reserves ahead of schedule.3City of Santa Clara. Santa Clara City Council and Santa Clara Stadium Authority Board Official Response to 2024 Civil Grand Jury Report
So three groups put up the money, but only one holds the title. The 49ers and the NFL funded the biggest share and get to use the building. The city provided the land and some supporting dollars. The Stadium Authority, created for exactly this role, took on the bonds and ended up owning what everyone built.