You see the headlines every few years. Someone in a bar or a frantic thread on X (formerly Twitter) swears up and down that Joe Montana finally bought back into the team he built. It makes sense, right? The guy is the personification of the San Francisco 49ers. He’s "Joe Cool." He’s the four-ring king of Candlestick.
But here’s the reality: Joe Montana is not a co-owner of the San Francisco 49ers.
It feels wrong to say. Honestly, it feels like a glitch in the sports universe. How can the man who threw "The Catch" have zero equity in the building? While other legends like Magic Johnson or Michael Jordan transitioned into the owner's box, Montana’s path took a sharp turn into the world of Sand Hill Road and tech investing instead of the NFL front office.
The Ownership Reality at Levi's Stadium
The 49ers are essentially a family business. They’ve been under the control of the DeBartolo-York family since 1977. Back then, Edward DeBartolo Sr. bought the team for $13 million. Today, it’s worth upwards of $8 billion.
Right now, Jed York is the principal owner and CEO. He recently consolidated power in 2024 by buying out enough of his mother’s (Denise DeBartolo York) shares to become the undisputed head of the franchise. Between Jed and his parents, they own about 97% of the team.
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There isn’t much room for Joe.
Recently, the team did sell a small 9.2% stake to outside investors, including Vinod Khosla’s family and Pete Briger of Fortress Investment Group. You’ll notice Montana’s name wasn't on that list. He wasn't even in the fine print.
Why Do People Think Joe Montana is an Owner?
The confusion usually stems from two things: his constant presence and his massive business success.
- Ambassador vs. Owner: Montana is a frequent guest at Levi’s Stadium. He’s on the field for pre-game ceremonies. He’s in the commercials. He’s the face of the "49ers Way." To the casual fan, that level of involvement looks like ownership.
- Liquid2 Ventures: Joe is a titan in the venture capital world. He founded Liquid2 Ventures in 2015. His firm has invested in over 800 companies, including giants like GitLab, Airbnb, and Pinterest. When people hear "Joe Montana just made a billion-dollar move in Silicon Valley," they instinctively assume he’s finally buying the team.
He’s definitely rich enough. His net worth is estimated around $150 million, though some say the valuation of his VC portfolio puts his influence much higher. But owning an NFL team requires "old money" levels of liquidity or a massive consortium, and Joe seems more interested in seed-stage startups than the headaches of NFL labor negotiations.
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The "Messy Breakup" Factor
You also have to look at history. The exit wasn't pretty. In 1993, the 49ers basically chose Steve Young over Montana. It was a cold, calculated business move by coach George Seifert and the front office.
Montana ended up in Kansas City. He was hurt. He was bitter.
For years, that relationship was frosty. While things have thawed significantly—he’s very much back in the "Niner family" now—that period of friction might have permanently steered him away from wanting to be a minority partner in a group led by the family that traded him away.
The Ownership Breakdown
If you're looking for the actual power players, here is the current hierarchy:
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- Jed York: Principal Owner, CEO, and the man making the calls.
- Denise DeBartolo York & John York: Co-Chairs and the family matriarch/patriarch.
- 49ers Enterprises: This is the investment arm that also bought the English soccer club Leeds United.
- Minority Partners: Groups like the Griffith family and various Silicon Valley tech moguls who hold tiny percentages.
What Joe Montana is Doing Instead
Instead of worrying about stadium parking prices or draft picks, Montana is playing the long game in tech. He’s a "super angel." His firm specializes in finding companies when they are just two people in a garage.
It’s a different kind of "Joe Cool" vibe. He isn't sitting in the owner's suite at every game because he’s often busy at board meetings for software-as-a-service companies.
Actionable Insights for Fans and Investors
If you were hoping to see Montana's name on the 49ers' masthead, don't hold your breath. However, you can learn a lot from how he handled his post-career life:
- Diversify Early: Montana didn't start Liquid2 until 2015, but he spent years learning the Silicon Valley landscape while he was still playing.
- Brand Value over Equity: You don't need to own the team to benefit from the team. Montana’s "Legend" status allows him to command massive speaking fees and endorsement deals that he reinvests into his VC firm.
- Know the Market: The NFL recently changed rules to allow private equity firms to buy stakes in teams. If Montana ever does become an owner, it will likely be as part of a massive private equity group, not as an individual buyer.
The next time someone tells you Joe Montana is a co-owner of the 49ers, you can politely correct them. He’s something much more modern: a tech mogul with four Super Bowl rings who just happens to have the best seats in the house whenever he wants them.
Next Steps for You: Check the official 49ers front office directory once a year. Ownership stakes in the NFL are becoming more fluid as valuations climb toward $10 billion, and while Montana isn't there now, the rise of "athlete-led" VC firms means the door is never truly closed for a legend to return as a boss.