Calif. Rejects $30M Settlement Over New 49ers Stadium

Law360, New York (October 30, 2012, 2:47 PM EDT) -- A California state agency has rejected a settlement proposed by the San Francisco 49ers and the city of Santa Clara to split $30 million of state funds earmarked for a new $1.2 billion stadium, a city representative told Law360 Tuesday.

The California Department of Finance refused to give its stamp of approval on a tentative agreement reached after the city’s attempts to take back the money completely for its school system ended in litigation, the city and 49ers confirmed.

Complicating the matter is that the funds...
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