"It's unreasonable to think that each of these individual franchises would be able to invest the billion dollars necessary to build a new stadium alone," said Carl Goldberg, chairman of the New Jersey Sports & Exposition Authority, which owns the land under the new Jets-Giants stadium. "The whole thing seems to be a horrible waste. Let's not forget that they only play 10 games per year per franchise. Doesn't it make more sense to build a better facility, with better fan appeal and a better fan experience, for both teams?"This is not rocket science. It makes sense. It won't destroy the "legacies" of the two teams if done correctly.
Update 1/26 9:42 a.m.: Per Hal Ramey's interview with Jed York (via John Ryan's article), the 49ers have dropped their request for redevelopment funds from $130-160 million to $28-45 million. Part of this reduction may have come from certain parts of the project being left aside, such as movement of the onsite PG&E substation (funny how that's a recurring theme). Movement of the stadium to the overflow parking site just across the street from team headquarters would allow them to forego the substation move. From the beginning I've advocated this option because simply put, the overflow lot doesn't get much use. The original plan had the stadium on a lot immediately north of the Great America entrance, which made little sense (especially for Cedar Fair).
The rest of the reduction could be attributed to lower construction costs. I've heard figures of contracts going for 20% lower right now as opposed to this time last year. This drop could last as long as the recession or longer, so teams looking to build, such as the A's and Niners, should feel sufficiently spurred on by the prospect of a less expensive stadium.