49ers name Yu part co-owner; extend Baalke
SAN FRANCISCO - In a move that seems aimed at securing success in the South Bay Area, the San Francisco 49ers officially named Gideon Yu President and Co-Owner on Friday after he served as Chief Strategy Officer since last April.
Yu, the Chief Financial Officer for both Facebook and YouTube before joining the 49ers, is credited as a key in the team securing an $850 million construction loan for a new stadium, reported to be the largest loan of its type in professional sports.
Yu is also credited for helping the 49ers get a $200 million financing package from the NFL to help build a new stadium.
"Gideon brings us a truly unique set of experiences and talents, and he will be a guiding force in our drive to continue the winning tradition of this franchise," 49ers CEO Jed York said in a press release.
York actually tweeted the news eight days earlier from Indianapolis, where NFL owners apparently approved the new ownership.
"Congrats to Gideon Yu, the newest co-owner of the 49ers. Glad to have you as my partner," York tweeted Feb. 2.
NFL sources say that Yu purchased one percent of the team for $8.5 million and that he has an option to buy up to five percent over a period of time.
A spokesman for the 49ers would neither confirm nor deny the percentage of ownership or buy-in details.
It also has been reported that Boston Celtics limited partner Mark Wan was buying a one percent interest in the 49ers, but that has not yet been announced.
If reports are accurate that Yu bought one percent for $8.5 million, that places the value of the 49ers franchise at $850 million, which just happens to be the same amount of the construction loan Yu helped secure.
In a conference call last week, York seemed eager to get the 49ers' new stadium built in the Santa Clara location near the team's current facility.
"Ground-breaking will begin soon," York said. "We're doing a lot of site make-ready work now. But now it's the construction, making sure we get shovels in the ground and start building."
York was asked when he expects the stadium to be ready.
"2015 is definite and we are hopeful if things go well we will have a '14 opening."
York also said he saw Oakland Raiders owner Mark Davis last week, but they did not discuss the possibility of the Raiders sharing the South Bay facility. But the possibility still remains.
York was asked point blank if the $200 million from the NFL included any contingencies regarding sharing the stadium with the Raiders.
"There are no strings attached, but obviously the deal that was approved by the city of Santa Clara, the term-sheet that we have with the City of Santa Clara, allows for this to be a two-team building. That has not changed.
"We have not had any meaningful conversations with another team about that, but have had high-level conversations with the Raiders just to let them understand what this project looks like."
But when he worked out with Davis in Indianapolis last week, York said they did not discuss the stadium
"We worked out together at the J.W. Marriot before the meeting, had lunch together. ... It was a very casual conversation, just lamenting the fact that we aren't playing in the game (the Super Bowl) more than anything else."
-- The San Francisco 49ers came roaring back to a place among the NFL's best in 2011, and the team took a step Friday toward keeping their resurgence on track.
General manager Trent Baalke agreed on Friday to a three-year contract extension with the 49ers that will keep him in San Francisco through the 2016 season. "This is a wonderful day for Trent, his family and the 49ers organization," team CEO Jed York said. "Without question, Trent has distinguished himself as the man to direct our football operations for years to come."
This past season was Baalke's first as general manager and his eighth with the 49ers. He was named Executive of the Year by Pro Football Weekly and the Pro Football Writers Association after San Francisco went 13-3, won the NFC West, and advanced to the NFC Championship game before losing to the eventual Super Bowl champion Giants. The team went 6-10 in 2010.
"I would like to thank Jed, and the York family, for this great opportunity and show of support," Baalke said. "In addition, I would like to thank Coach Harbaugh, as well as our coaches, players, scouts, and entire football operations staff for their hard work and dedication this season. It is a privilege to work for the 49ers organization alongside this group as we continue our pursuit of championships."
Baalke started with the 49ers in 2005 as the team's western region scout. In 2008, he was promoted to director of player personnel, and he became vice president of player personnel in 2010 before taking the GM job in 2011. Since 2010 Baalke has led the 49ers in acquiring 32 players who were part of their breakthrough season this past year. Chief among those was wide receiver Ted Ginn, Jr., who came to San Francisco in a trade from the Miami Dolphins in 2010. Ginn was third in the NFL in kickoff return average in 2011 (27.6 yards per attempt) and fourth on punt returns (12.3 yards per attempt).
Before joining the 49ers' staff, Baalke worked as a scout with the Redskins and Jets, and was part of two college coaching staffs at South Dakota State and North Dakota State.
--Two 49ers have been arrested in the last two weeks. Linebacker Aldon Smith was pulled over in Miami on suspicion of DUI. Then defensive end Ray McDonald was arrested for an outstanding warrant stemming from his DUI arrest in the summer of 2010. McDonald was held for five hours in a San Mateo County jail and then released. Neither Smith or McDonald are considered character risks. McDonald was signed to a five-year, $20 million extension in July and responded with his best season, which he capped with a 2.5 sack performance in the title game.
--The 49ers beat the San Francisco Giants in a charity shootout at Pebble Beach two days before the AT&T Pro Am. "It was a great team win," said quarterback Alex Smith who consistently drove the ball well over 300 yards. Current and former players participated. Smith, Harbaugh and former players Harris Barton and Dwight Clark made up part of the 49ers team. The Giants' most high-profile pairing included former first baseman Will Clark and current pitcher Matt Cain.
--Harbaugh will play in the AT&T event and Alex Smith will serve as his caddy for at least part of the tournament. Harbaugh said his goal was to beat the rest of the coaches and former coaches in the field including Herm Edwards, Bill Belichick, Nick Saban, and Bob Stoops. Harbaugh is a 12 handicap and is paired with pro golfer Ryan Moore. "(I) want to be first among the football coaches," Harbaugh said.
--Harbaugh said he's not going to make golfing in the offseason a regular event. "I don't ever play a whole lot of golf in the offseason. We'll get right on free agency and the draft and find some ways to get better. That's what we are going to need to do," he said.
--The team got a huge boost for their stadium drive in Santa Clara when the NFL announced it would provide $200 million through its G4 program for the team's new stadium. The only obstacle for completing their financing is a possible lawsuit by Santa Clara citizens who want to put the financing measure back on the Santa Clara ballot. The city council has so far rejected another ballot measure.
QUOTE TO NOTE
"They are doing the blocking and they are doing the tackling. I didn't feel comfortable taking a deep bow for what our players had done." - Jim Harbaugh on why he didn't personally accept his Coach of the Year award in Indianapolis.
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