Well, this is "interesting" to say the least. The San Francisco 49ers are apparently looking to other avenues of investment for revenue. The mayor of Sacramento announced in his State of the City address that the 49ers are going to help invest in the team's local soccer team, Sacramento Republic FC.
BREAKING - mayor says 49ers will invest in @SacRepublic in bid for @MLS— Dale Kasler (@dakasler) January 30, 2015
mayor now introducing Jed York, CEO of 49ers, to standing ovation. "We welcome you to Sacramento."— Dale Kasler (@dakasler) January 30, 2015
Somewhere in there is jed York. Honest pic.twitter.com/Cfz1lKlr72— Dale Kasler (@dakasler) January 30, 2015
This all comes amidst question marks about what the 49ers are doing with their coaching staff from a financial perspective. For now it is just rumor and speculation, but there is a perception that the team is going cheap with the coaching staff. You can believe that perception, or you can view it as complete BS. I'm not here to tell you what's the truth because all I know is what we've heard from Jason Cole, and what others have speculated on.
This is not the first investment by the 49ers outside of the team. The team was part of an investor group that provided a round of financing for Woven Digital. Woven owns Uproxx and partners with theChive, among other sites. I find that particularly amusing because PFT Commenter does some of his writing for Kissing Suzy Kolber, which is an Uproxx site. If you are on Twitter and enjoy quality satire, PFT Commenter is an account to follow.
All that being said, I can see two responses to this investment. The first is that it's York money, and they can do what they want with it. It could mean the whole notion of being cheap with coaches is BS. On the other hand, some will view this as a bizarre business decision in the midst of a rather tumultuous few weeks for the 49ers.
I really don't know exactly what to make of it, other than it comes as the perception issue is in fact out there. The team and Yorks are not publicly worried about it, so make of it what you will. They are now significant investors in Republic FC.
Fooch's Note: I will say it is worth noting that when Edward DeBartolo Sr. bought the 49ers, he subsequently bought the Pittsburgh Penguins. He gave the 49ers to Eddie Jr. and the Penguins to Denise.
Fooch's Update - Some more info coming out:
49ers group - it's Jed York & partners, not the team - will have roughly the same stake as Kings, says @RepublicFCPrez— Dale Kasler (@dakasler) January 30, 2015
Jed York tells @MarcosBreton that 49ers have more season tix holders in Sacramento than in SF. Part of the reason for @SacRepublicFC deal— Dale Kasler (@dakasler) January 30, 2015