By Robert Haugh
We broke the story that 49ers Exec and Stadium Manager Jim Mercurio had a conflict of interest because he has stock in VenueNext, a stadium vendor.
We found that info on his Form 700. That’s the economic interest form he’s required to fill out because he makes decisions on behalf of a government agency, the Stadium Authority.
That may be only half the story.
Mercurio also bought stock in Visual Labs, another stadium vendor that makes body cameras for stadium security.
According to a Mercury News story last week by Thy Vo, Mercurio sold his shares in both companies after our story came out. She also reports that the 49ers canceled the Visual Labs contract after our story.
Now, the California Fair Political Practices Commission (FPPC) has sent a letter to the City saying they’re investigating Mercurio.
According to our sources, the FPPC may be looking at more than just Mercurio. 49ers CEO Jed York is the Chair of the Board for VenueNext. We reported that, too. York isn’t required to fill out a Form 700 that lists his economic interests so we don’t know how much stock he has in the company. Or if he has a stake in Visual Labs or any other stadium vendors.
Interestingly, VenueNext has stopped bragging about their connection to the 49ers. We linked to their web page in our original story. Now that page has been deleted. Hmmm.
We’ll continue to follow this story as it develops.