Why have the 49ers Owners Suddenly Stopped Spending Big Money?

From 2017 to 2024, the 49ers spent more cash on football than almost any other NFL franchise.

Feb 10, 2025; New Orleans, LA, USA; San Francisco 49ers chief executive officer Jed York at the Super Bowl LIX host committee handoff press conference. Mandatory Credit: Kirby Lee-Imagn Images | Kirby Lee-Imagn Images

From 2017 to 2024, the 49ers spent more cash on football than almost any other NFL franchise.

Now, they've suddenly embraced Moneyball and slashed their spending budget. Why?

Keep in mind, the 49ers are worth nearly $6.8 billion according to Forbes. They're the sixth-richest franchise in the NFL, they have a passionate, global fanbase, they sell out their stadium every week and recently they increased their season-ticket prices. They should be rolling in dough.

But they also invest a ton of cash in non-football things. They own 100 percent of an English soccer team called Leeds United, plus they recently bought a controlling share of a Scottish soccer team called Rangers FC. So while they're worth nearly $7 billion, most of that money is tied up in investments. Which means they might be slightly short on cash this year.

It's possible the 49ers intend to scale back their spending on football for a year and then bump it back up in 2026 as they make another Super Bowl push.

Or, it's possible the 49ers have decided their football team isn't profitable enough and needs to be more cost-effective in the future so they can afford to invest in soccer and other ventures.

It's hard to know exactly why the 49ers owners have gone cheap all of a sudden. Fortunately for us, team CEO Jed York will answer questions at the NFL Annual Meeting next week. It will be fascinating to hear his explanation for this bizarre offseason.