After a drawn-out saga of disagreements and negotiations, the Santa Clara Stadium Authority and the San Francisco 49ers finally settled. The deal is set to resolve many contentious issues ranging from public safety costs to buffet expenses at the Levi's® Stadium. Officials are touting the agreement as a win for the taxpayer, with a cut down of the Authority's debt to the 49ers by a hefty $7.5 million and a promise to funnel $7.1 million in Performance Rent into the city’s coffers.

The new arrangement also promises to inject more money into Santa Clara’s pocketbook, with an estimated $2.8 million for the next fiscal year. In line with agreements penned over a decade prior, the 49ers have been shelling out for public safety during NFL games. This settlement securely slashes the amount the Stadium Authority will have to reimburse per game by $108,000 and slaps an additional $4 surcharge on tickets for non-NFL events, easing the financial burden on the public entity.

In an upbeat statement obtained by the City of Santa Clara's official website, Jōvan D. Grogan, who doubles as the Executive Director of the Stadium Authority and Santa Clara City Manager, spoke of the accord. "We believe the Settlement Agreement addresses key concerns and provides a fair and advantageous resolution for the Stadium Authority and Santa Clara residents," he said. Grogan’s optimism is pinned on projections showing Santa Clara's general fund cashing in an impressive $20 million from the stadium operations in the following two years.

This fiscal handshake comes after a lengthy period of back-and-forth, signifying a new chapter for the City of Santa Clara and the football franchise. The official settlement agreement and release spell out the terms in black and white. Some homework remains, however, as amendments to the Stadium Lease, Ground Lease, and other related agreements are expected to be voted on at a Santa Clara City Council session slated for May 28 at 7 p.m.