Nearly eight months after the two sides reached a
"tentative agreement, the new ownership of the 49ers on
Sunday became official," according to Matt Maiocco of the
CONTRA COSTA TIMES. Eddie DeBartolo, who purchased the team
for $17M in '77, "no longer has any stake in the team he
built into a five-time Super Bowl champion," and his sister,
Denise DeBartolo York, will assume full ownership control.
Under terms of the deal, York gains "sole control of the
49ers, Louisiana Downs race track" and the DeBartolo
corporation headquartered in Youngstown, OH. In return,
DeBartolo receives "real estate and stock holdings, the
value of which was not disclosed." DeBartolo and his sister
"have been in negotiations to split their financial
interests for about a year with directives" from federal
judge Daniel Polster. The deal still must be approved by
the NFL and IRS. Both DeBartolo and his sister owned 50% of
the corporation, which owned the 49ers. York spokesperson
Sam Singer reiterated yesterday that the Yorks "have no
intention to sell the 49ers" (CONTRA COSTA TIMES, 3/20). In
S.F., Matier & Ross write that the Eddie DeBartolo era "is
now 49ers history," as sources said DeBartolo and his sister
"reached the settlement during a 10-hour marathon session
Friday" in TN. Matier & Ross report "word has it that the
two sides ... continued to haggle until the very end over
tens of millions in assets," but now Denise and John York
"are finally free to decide the future of the franchise,"
including the fate of a new stadium (S.F. CHRONICLE, 3/20).
