By Robert Haugh
We broke the story that 49ers exec and Stadium Manager Jim Mercurio looks like he has a serious conflict of interest.
He makes decisions about stadium vendors and one of them is VenueNext. The company is a “sports and entertainment technology integrator.” Mercurio bought or received between $10,001 – $100,000 of stock in VenueNext.
We only know this because Mercurio is the Stadium Manager. So he is legally required to fill out a California Fair Political Practices Commission (FPPC) Form 700. It’s the form that lists financial interests so the public knows if a decision maker has a conflict of interest when doing the public’s business.
After our story ran, an inside source gave us some more info. We learned that 49ers CEO Jed York is also the Chairman of the Board of VenueNext. We confirmed it by checking out the company’s website:
York doesn’t have to fill out Form 700. So we don’t know how much stock he has as the Chairman. Our source didn’t know either. But our source says he was “instrumental in cutting the deal” between Levi’s Stadium and VenueNext.
That makes sense if you check out VenueNext’s slogan:
City Hall sources say there will likely be an FPPC investigation. This is a developing story.