The San Francisco 49ers have promoted long-time team executive Paraag Marathe to team President, as Gideon Yu is stepping down from that role. Yu will continue on as a co-owner of the club. Additionally, Al Guido, who worked intimately with the 49ers and the Santa Clara Stadium Authority in his previous role as the Senior Vice President of Global Sales for Legends, will join the 49ers and fill Marathe's former role as Chief Operating Officer.
"As we move closer to the opening of Levi's® Stadium, our organization will continue to evolve and grow," said 49ers CEO Jed York. "Gideon, Paraag and Al have been instrumental in making the new stadium a reality, and I couldn't be more excited about the future of our management team and the 49ers organization. Paraag and Al have developed a tremendous working relationship and I am deeply confident in their leadership."
Yu has led all business, financial and strategic operations of the 49ers since joining the team. He spearheaded the financing of Levi's® Stadium, including securing an $850 million stadium construction loan, the largest ever in professional sports, a $200 million financing package from the NFL and the largest long-term stadium financing in NFL history. Yu also played a key role in accelerating the opening date of Levi's® Stadium from the originally planned 2015 season to 2014.
Marathe's intimate knowledge of the 49ers from more than 13 years with the team, and his experience on both the football and business sides, have awarded him great insight into the workings of the NFL and team sports. Guido has established himself as one of the most accomplished sales and service executives in the industry, having led the sales initiative at Levi's® Stadium that reached a record-setting pace.