Latest news with #teamownership
Bloomberg
2 days ago
- Business
- Bloomberg
Sports Teams Now Run Like Tech Startups: Fmr. NFL Player
Andrew Kline, Park Lane Founder & Former St. Louis Rams Lineman speaks with Romaine Bostick about the rising valuations of sport teams. (Source: Bloomberg)
New York Times
15-05-2025
- Business
- New York Times
San Francisco 49ers to sell minority stake in team to trio of local families
The San Francisco 49ers are in the process of selling 6.2 percent of the team to a trio of Bay Area families, according to a league source familiar with the proposal. The York family, who own the 49ers, would sell 3.1 percent to the Khosla family, 2.1 percent to the Deeter family and 1 percent to William Griffith. Advertisement The league's finance committee has recommended approval of the transactions at next week's NFL owners meeting in Minnesota. Vinod Khosla, 70, was the co-founder of Sun Microsystems and is currently the managing director of Khosla Ventures out of Menlo Park. Byron Deeter, 50, is a partner at Bessemer Venture Partners, which has offices in San Francisco and Redwood City. Deeter graduated from UC Berkeley, where he played rugby. Griffith, 53, is a partner at ICONIQ Capital in San Francisco. He played football at Dartmouth and earned an MBA from Stanford. Earlier this year, the NFL owners approved an 8 percent sale of the Philadelphia Eagles to a pair of individuals, reportedly boosting the franchise's value to $8.3 billion. The New York Giants, meanwhile, are reportedly looking to sell a 10 percent stake in the team. If the 49ers' transaction is approved, Jed York would control approximately 91 percent of the club. The 49ers declined to comment on the proposal on Thursday.
