Jan 19, 2014; Seattle, WA, USA; San Francisco 49ers wide receiver Michael Crabtree (15) catches a pass between Seattle Seahawks cornerback Byron Maxwell (41) and free safety Earl Thomas (29) during the second half of the 2013 NFC Championship football game at CenturyLink Field. Mandatory Credit: Steven Bisig-USA TODAY Sports

San Francisco 49ers name new president

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The San Francisco 49ers recently announced the promotion of executive Paraag Marathe to team President. Current President Gideon Yu is stepping down.

According to 49ers.com, Yu will continue on as a co-owner of the club.

The club also announced that Al Guido, who worked with the 49ers and the Santa Clara Stadium Authority in his previous role for Legends, will fill Marathe’s 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 and was intimately involved in the financing of the team’s new home, Levi’s Stadium. Yu secured an $850 million stadium construction loan, a $200 million financing package from the NFL and the largest long-term stadium financing in NFL history.

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