Jed York Explains Why the 49ers Have Made Him Principal Owner

ORLANDO -- Jed York officially bought out enough of his parents shares of the 49ers to become the team's principal owner this week.

York was asked about the significance of this move. Here's what he said.

Q: What does it mean that you're now the principal owner of the 49ers? Why is that important?

YORK: "It's a move to keep this team in our family for generations to come. I think it's reflective of how we've operated. My parents are going to remain co-chairmen. I don't think you're going to see any change, it's more a long term family planning thing and making sure that this team stays in our family for generations to come."

Q: What's your ownership percentage?

YORK: "I'm not going to get into direct ownership percentages, but my family owns 97 percent of the team. We'll continue to keep that in our family and continue to move forward."

Q: Has this been in the works for a while?

YORK: "Estate planning is always a unique process within families. It's something we've always discussed, and I think watching different family successions and seeing how reading a will can be very different than having a conversation when everyone is still around and available to walk through and talk through and get from where we are to where we're going, we just thought it was a better process to just transition into smoothly. Being a very close family, I don't ever anticipate any problems with my family, it's just an easier, smoother transition to make sure that this team stays in our family."

MY TAKE: I don't have the slightest idea about what York is talking about. Billionaires have a unique way to say nothing in a lot of words.