49ers sell a minority share of team to 3 Bay Area families

EAGAN, Minn. (AP) — The San Francisco 49ers announced that they have sold small shares in the team to three Bay Area families.

The Niners said the investments that give the new families a non-controlling minority interest in the team were approved by the NFL at league meetings on Tuesday.

The shares were purchased by the Deeter family, led by Byron and Allison Deeter; the Griffith family, led by Calla and Will Griffith; and the Khosla family, led by Neal and Vinod Khosla.

Sportico first reported the deal last week, saying it was for about 6% of the team and an $8.5 billion valuation.

Byron Deeter is a partner at Bessemer Venture Partners

Will Griffith is a partner at ICONIQ, a global investment firm.

Neal Khosla is the CEO and founder of Curai, an artificial intelligence-enabled primary care company.

The York family, led by team CEO Jed York, remain majority owners of the Niners and have full control of the team.