The San Francisco 49ers are selling 6.2% of the team to three Bay Area families, sources told Nick Wagoner of ESPN.

The Khosla family is purchasing 3.1%, the Deeters are acquiring 2.1%, and the Griffiths are buying a 1% stake, Matt Barrows and Dianna Russini of The Athletic reported. All three families have venture capital backgrounds.

The sales will increase the franchise's valuation to $8.5 billion, according to Sportico. That figure would set a record for a sports team's valuation as part of a sale. A group led by Josh Harris purchased the Washington Commanders for a little more than $6 billion in 2023.

The sale is expected to be approved at the owners' meeting next week.