SANTA CLARA, Calif. (AP) - The San Francisco 49ers are a step closer to moving to Santa Clara after the team and city officials reached a deal on how to finance the building of a new stadium.

In a closed session Tuesday, the two sides agreed on a financing package for a proposed 68,500-seat stadium.

City officials say details of the proposal will be released on May 29, before the June 2 City Council meeting.

Santa Clara residents will still get to decide on the agreement. A citywide vote is expected in March. An environmental-impact report must also be completed.

The 49ers announced more than two years ago they wanted to move to Santa Clara, saying they would like a new stadium built by 2014.

Copyright 2009 The Associated Press.