SAN FRANCISCO — Santa Clara, Calif., is considering using one of the largest public subsidies ever to help finance a $1.02 billion stadium for the National Football League’s San Francisco 49ers.

The proposed stadium would incur up to $850 million of debt to fund construction in the form of a loan or a senior-secured facility from Goldman Sachs & Co., U.S. Bank and Merrill Lynch, Pierce, Fenner & Smith.

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