The San Francisco 49ers are in talks to sell a six-percent minority ownership stake to three Bay Area families for a total of $510 million—based on a franchise valuation of $8.5 billion. This marks a historic deal, as Forbes valued the team at $6.6 billion in 2024.
If you’re wondering what’s behind the numbers, think of the 49ers as a trophy piece of real estate. The owner isn’t selling the entire property—and you likely couldn’t afford it anyway—but they’re open to a deal.
Both sides agree to a premium price for a small percentage of ownership, roughly a 23% markup over the most recent valuation, because they see it as a long-term appreciating asset.
Sale Would Immediately Boost the 49ers’ Value
As reported by Sportico, the Niners are in negotiations to sell interests to the Khosla, Griffith, and Deeter families. The sale still must pass muster with the NFL’s finance committee, but no one has commented on the potential sale of the parties involved.
Vinod Khosla, co-founder of Sun Microsystems and Khosla Ventures—a prominent Silicon Valley venture capital firm valued at around $8 billion—is one of the key figures involved. Mark Deeter made his fortune in real estate and private equity, while Nick Griffith is a finance executive with deep involvement in early-stage tech ventures.
Minority ownership in professional sports is nothing new. Many franchises across leagues operate with multiple investors, typically anchored by one controlling owner. However, like most NFL teams, the San Francisco 49ers have long been under the exclusive control of a single family.
Since 2000, the York family has held the reins. Eddie DeBartolo formally transferred ownership to his sister, Denise DeBartolo York, and her husband, Dr. John York. Their son, Jed York, has served as team president and the public face of the franchise since 2008.
A major shift came in March 2024, when the NFL approved a landmark policy change allowing private equity firms to purchase minority stakes in teams. Previously, only individuals or family ownership groups could hold such investments.
To date, only two teams—the Buffalo Bills and Miami Dolphins—have taken this route, partnering with Arctos Partners.
The hesitation among most NFL owners comes down to culture and control. Many prefer to keep operations within tight-knit family structures and avoid the pressure and expectations that come with outside capital.
Private equity tends to demand a return within 7–10 years, while legacy ownership groups—like the Rooneys (Steelers) or Maras (Giants)—favor long-term, methodical stewardship.
The Green Bay Packers remain a unique case as the league’s only publicly owned nonprofit franchise, with over 500,000 shareholders who hold no dividend rights.