Source: Jed York to take over as 49ers’ principal owner

Source: Jed York to take over as 49ers’ principal owner originally appeared on NBC Sports Bay Area

ORLANDO, Fla. — In a transactional move designed to keep the 49ers in the York family for generations, Jed York is set to take over as the NFL franchise’s principal owner.

York will buy enough equity from his mother, Denise DeBartolo York, to take over as the principal owner with approval expected from the league’s other owners at the NFL Annual Meeting, a source confirmed to NBC Sports Bay Area.

Sports Business Journal’s Ben Fischer first reported news of the impending title change Monday.

York, 43, will continue as the 49ers’ CEO, a position he has held since 2010, when he began overseeing the football and business sides of the organization.

His parents, Denise and John York, continue to be significant shareholders in the 49ers. Forbes valued the 49ers at $6 billion in 2023.

While it is not known how much of the 49ers that Jed York will own, the family holds more than 95 percent of the franchise, per SBJ.

The 49ers have five Super Bowl titles in their trophy case, each of which was earned during the ownership of Edward J. DeBartolo Jr., brother of Denise York.

DeBartolo stepped down as chair and CEO of the 49ers in 1997 in anticipation of an indictment for gambling fraud in Louisiana.

The following year DeBartolo pleaded guilty in federal court to a felony charge of failing to report an extortion attempt. Louisiana’s former governor, Edwin Edwards, allegedly extorted $400,000 from DeBartolo to be granted a casino license.

DeBartolo never regained control of the 49ers, and Denise York took over the 49ers in a 2000 settlement in which the siblings divided their assets.

Then-president Donald Trump pardoned DeBartolo Jr. in 2020.

The 49ers have won six NFC West titles and appeared in three Super Bowls since the Yorks took control of the franchise.

The 49ers are coming off a season in which they fell to the Kansas City Chiefs, 25-22, in overtime of Super Bowl LVIII in Las…

Source link : https://sports.yahoo.com/source-jed-york-over-49ers-230406260.html

Author : NBC Sports BayArea

Publish date : 2024-03-25 23:04:06

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