49ers part of deal to buy Great America

September 19, 2011, 7:59 pm
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The 49ers have partnered with a real estate firm to purchase the Great America theme park for 70 million.

The story was initially reported by the San Jose Mercury News.

The real estate firm, JMA Ventures, issued a press release that did not identify the 49ers owners but indicated that an "entity" connected to the team "is expected to partner" with the San Francisco business in the acquisistion of the theme park. Great America is currently owned by Ohio-based Cedar Fair, which bought the park in 2006.

We are excited about this new opportunity and partnership with JMA, the 49ers said in a news release issued late Monday morning. We believe this venture will enhance both Great America Park and the Santa Clara Stadium project. It creates great synergy and collaboration between two of the largest family entertainment destinations in the region.

The move is another step toward building a new stadium for the team, which has been seeking an alternative to Candlestick Park for years.

"The acquisition will position the park for future long-term growth and clears the way for the new stadium project to move forward, " JMA said in the release.

The city of Santa Clara owns property where Great America is located. It leases the land for 5 million a year

The 49ers plan to build a 68,500-seat stadium on a parking lot adjacent to Great America.

The 49ers have not commented on the report.