Santa Clara Stadium Authority holds study session on 2025–26 budget, staff to return March 11

The Santa Clara Stadium Authority Board on March 2025 held a study session to review the proposed fiscal year 2025–26 operating, debt service and capital budget for Levi's Stadium and related compliance, public-safety and marketing plans. Executive Director Jovan Grogan and Stadium Authority Treasurer Ken Lee presented the materials and responded to questions from board members and the public; staff said no formal action was requested or taken and that the matter will return to the board on March 11 for potential adoption.

Board members were shown that the stadium manager's January submittal puts the operating budget near $61.2 million and, after transfers, roughly $80 million of financial activity for the stadium authority in the coming fiscal year. Treasurer Ken Lee said the draft budget implements terms of the city's 2024 settlement agreement with the stadium manager and includes a number of timing differences and new line items tied to that settlement and to planned World Cup and Super Bowl activity.

Why it matters: the stadium produces recurring transfers to the city general fund but also carries large, on-going facility and public-safety obligations. The board's decisions about reserve funding, capital contributions and how to treat public-safety and event-related costs affect how much money flows to the general fund and how quickly renovation and demolition reserves can be accumulated.

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