San Francisco 49ers Promote Gideon Yu to President, GM Baalke’s Contract Extended

The San Francisco 49ers signed General Manager Trent Baalke to a three-year contract extension through the 2016 season and promoted Gideon Yu to president and co-owner, generic the team said.

Baalke took over in January 2011 as general manager for the 49ers, arthritis who reached the National Football Conference’s championship game this season. He is in his eighth year with the team.

“Trent has distinguished himself as the man to direct our football operations for years to come,” CEO Jed York said in a team release.

Baalke thanked York and the York family, adding, “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. The success we experienced on the field was a direct result of their efforts. It is a privilege to work for the 49ers organization, alongside this group, as we continue our pursuit of championships.”

Yu was a general partner at Khosla Ventures, a venture capital company based in Menlo Park, California, until joining the 49ers as chief strategy officer last April.

Yu, previously chief financial officer at Facebook Inc. and YouTube LLC, has focused in the past year on securing funding for the 49ers’ proposed new $1 billion stadium in Santa Clara,California.

“He’s both a visionary and the ‘go-to’ guy who can lead us through the enormous opportunities ahead, such as the stadium construction, expansion of our brand and its businesses and positioning the franchise for the future,” York said in a team release.

The 49ers did not say how much of an ownership stake Yu will have in the team.

Yu will be responsible for all business operations. He and Baalke, who will lead the team’s football operations, both will report to York, the team said in its release.

by Ismail Uddin