It's one of the largest naming-rights deals ever and, according to the Mercury News, is larger than the naming-rights deals "scored by the San Francisco Giants, Oakland Raiders, Oakland A's, Golden State Warriors and San Jose Sharks -- combined."
Unlike many other teams' naming rights deals, 70% of these proceeds will help pay off Santa Clara's $450 million in short-term construction bonds. Add that to $300 million in seat licenses going toward the city, and Field of Schemes' Neil deMaus gives this stadium subsidy a rare thumbs-up (so far):
"...taxpayers should have their butts mostly covered, anyway, though it’ll likely require selling some 20-year bonds that can raise money now and be paid off over time with the Levi’s boodle.
"So Santa Clara’s big gamble looks to be working out relatively well: If taxpayers do end up on the hook for something toward the stadium costs, it should only be a tiny fraction of the $1.2 billion total construction cost. Which doesn’t necessarily make such a risky maneuver a good idea for other cities — not every team can sell its naming rights for $11 million a year, and Santa Clara got very lucky that the 49ers got good just in time for those PSLs to go on sale — but at least those who were worried this would be a Cincinnati-style taxpayer albatross can breathe a little easier."