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49ers near deal to sell 6.2% stake in franchise to 3 Bay Area families

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49ers near deal to sell 6.2% stake in franchise to 3 Bay Area families


SANTA CLARA, Calif. — According to San Francisco 49ers owner Jed York, interested parties have approached his family “probably on a weekly basis” to attempt to buy a piece of the 97% of the team the Yorks own.

This week, it seems, three of the parties who approached the York family came with the right offer. The 49ers are working to complete the sale of more than 6% of the team to three Bay Area families, according to a league source.

Sportico, which first reported the pending sale Thursday, said the sales will be done at a franchise valuation of more than $8.5 billion. If the deal is completed at that number, the valuation will be the largest ever for a sports franchise in a transaction.

The Khosla, Deeter and Griffith families are the prospective buyers, with the Khoslas purchasing 3.1%, the Deeters obtaining 2.1% and the Griffiths acquiring 1%, The Athletic reported Thursday afternoon.

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The NFL is expected to formally approve the transactions at the spring owners’ meetings in Minneapolis next week. The 49ers declined to comment on the proposed sales Thursday./p>

br/>The Niners have been receiving offers for the past few months, and York said in March at the annual league meeting that his family had been considering a sale of up to 10% of its ownership stake. At the time, he called it a “family asset allocation decision” based on the wants and needs of various family members.

“It’s just one of those things where if there’s an opportunity that makes sense, we would always explore that, but I’m not sure what we’re going to end up doing,” York said then. “And if we do, we would try to find the right people who would help bolster everything that we’re doing in and around the team, on the field, off the field, and just make sure that we had good partners that are with us.”

All three of the reported buyers have venture capital backgrounds. Vinod Khosla is co-founder of Sun Microsystems and the founder of Khosla Ventures in Menlo Park, California. Byron Deeter is a partner at Bessemer Venture Partners in Redwood City and San Francisco, and William Griffith is a partner at Iconiq Capital in San Francisco.

In other franchise-related news, theLos Angeles Chargersare requesting approval to sell an 8% stake in the team to a private investment firm, The Los Angeles Times reported, citing a person with knowledge of the approval request sent in a memo to NFL owners.

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The newspaper said Chargers owner Dean Spanos and siblings Michael Spanos and Alexis Spanos Ruhl will attempt to sell the stake to private investment firm Arctos at next week’s meetings.br/]

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BART equipment issue near West Oakland disrupts service on Red, Green lines

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BART equipment issue near West Oakland disrupts service on Red, Green lines



BART service on the Red Line and Green Line is being disrupted during the Monday morning commute due to an equipment issue, officials said.

The agency said shortly after 7 a.m. that the issue involves an issue on the track near the West Oakland station. As a result, there is no Red Line service between Millbrae and Richmond and there is no Green Line service between Berryessa station in North San Jose and Daly City.

All stations on the system are open as of Monday morning.

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Green Line passengers heading to San Francisco are urged to board a Richmond-bound train and transfer at Bayfair to a Daly City train. Meanwhile passengers heading to Berryessa from San Francisco can board a Dublin/Pleasanton train and transfer at Bayfair to a Berryessa train.

For Red Line passengers heading to Millbrae from Richmond, riders are urged to take an Orange Line train heading to Berryessa and transfer at MacArthur to a Yellow Line train for SFO.

It was not immediately known when full service on the Green Line or Red Line would be restored.

Monday’s disruption comes three days after service between South Hayward and Berryessa stations was disrupted due to a vandalism incident. The agency has faced increased scrutiny in recent months over multiple hours-long service disruptions.

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San Francisco Playhouse brings ‘Into the Woods’ to Union Square for the holidays

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San Francisco Playhouse brings ‘Into the Woods’ to Union Square for the holidays


A new production of the Broadway classic “Into the Woods” is bringing a dose of magic — and a reminder about the power of community — to Union Square this holiday season.

San Francisco Playhouse is staging the Stephen Sondheim musical now through mid-January.

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What they’re saying:

Co-founder and producing director Susie Damilano said the show’s blend of childhood fairy tales and adult consequences feels especially resonant this year.

“It’s all the fairy tales we grew up with,” Damilano said. “In Act One we see the characters’ wishes come true. In Act Two, we see the consequences. It reminds us to be careful what we wish for.”

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At the center of the production is a new story thread involving a baker and his wife longing to have a child. 

Damilano said the woods themselves become a metaphor for the characters’ journeys — mystical and inviting in some moments, dark and tangled in others.

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“I decided that having magical, mystical woods would be the way to go,” she said. “They represent our collective unconscious… beautiful, but with a lot of tangled things in there, just like our own minds.”

Damilano said she cried the first time she saw the full production come together, moved by the design team’s work and the emotional weight of the story.

“It just takes my breath away,” she said. “This show touches us deep in our soul. It reminds us how important community is.”

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Big picture view:

The production arrives at a time when many theaters are still struggling in the aftermath of the pandemic. 

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Damilano said San Francisco Playhouse feels fortunate and energized by audiences returning to the city’s core.

“We’re filling our houses,” she said. “Union Square is coming back to life. People are out playing chess and ping pong again, the Christmas tree is up, there’s ice skating. It feels good.”

With its familiar characters and themes of family, loss, and longing, “Into the Woods” is designed to be a holiday-friendly experience for all ages.

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“Into the Woods” runs through Jan. 17 at San Francisco Playhouse in Union Square. Tickets and show times are available at sfplayhouse.org.

The Source: Original reporting by Allie Rasmus of KTVU

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Thanksgiving food drives help struggling Bay Area families facing food insecurity: ‘Feed everybody’

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Thanksgiving food drives help struggling Bay Area families facing food insecurity: ‘Feed everybody’


SAN FRANCISCO (KGO) — With only five days until Thanksgiving, food drives are kicking off to help across the Bay Area to help families experiencing food insecurity enjoy a holiday meal. This is all at a time when so many people are struggling financially.

Volunteers were cheering on every car, dropping off donations for the annual SF Turkey Drive.

Pierre Smit founded the turkey drive in 2012. It’s a community call to action for frozen Turkeys and Thanksgiving food donations, which benefits the SF-Marin Food Bank and its partners.

“This is extremely important. We want to make sure we feed everybody. We want to make sure we don’t have hungry people in San Francisco,” Smit said.

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“This is a very good thing. I want to see it do well and support St. Anthony’s and the food bank, for those who need it most,” said Donna Howe from San Francisco.

MORE: Bay Area food banks in ‘crisis mode’ despite government shutdown ending

San Francisco Mayor Daniel Lurie and his family stopped by to help collect food donations.

“This is all about bringing community together, looking out for each other during this holiday season. We have an affordability crisis in the city and the country. We have to take care of each other. That’s what today is about,” Lurie said.

The food bank says it’s a critical time for families facing food insecurity. Demand is higher now than at the height of the COVID-19 pandemic.

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“We’re seeing a 205% spike in people coming to our food locator — that’s people going online, trying to find food,” said Angela Wirch from SF-Marin Food Bank.

In the South Bay, a free drive-thru turkey giveaway in Santa Clara is lending a hand to a lot of families in need.

“I said, ‘You know, I’m having a hard time, so I’m going to come by and get a turkey for my family,’” said Manuel Rojas.

State Senator Aisha Wahab hosted the annual giveaway. She says it gets bigger every year.

“We know there’s people who live in poverty and in the shadows,” Wahab said.

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On Thursday in Santa Cruz, demand overwhelmed supply at a drive-thru Thanksgiving food giveaway. Organizers ran out of food within hours after thousands of people showed up.

“One of the things we’ve heard, they’ve either been laid off, struggling. They didn’t want to come and receive a turkey but can’t deny they’re in need this year,” Wahab said.

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