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Ugh - WSJ reporting Steelers being secretly shopped.

Discussion in 'Sports and News' started by 93Devil, Jul 7, 2008.

  1. 93Devil

    93Devil Well-Known Member

    I really hope this just is a bunch of nothing in the long run, but the local Pittsburgh news just broke into the telecast to mention this story.

    The WSJ posted it at 5:31 p.m. and I think WPXI was airing it in less than 30 minutes.

    The possibility of an unwelcome owner of the Steelers is a big deal in Western PA.


    "The storied Pittsburgh Steelers football franchise has been secretly shopped to potential buyers amid continuing divisions among the five sons of the team's founder, Art Rooney Sr.

    The talks affect not only one of America's iconic sports franchises, but one of its most fabled sports families. Steelers Chairman Dan Rooney, who helped build the National Football League and is the oldest of the five sons, wants to consolidate his control by acquiring most of his brothers' shares in the Steelers over 10 years, those briefed on the talks said."
  2. pallister

    pallister Guest

    Awesome, a Steelers thread.
  3. How is it being shopped if Dan wants to consolidate his brothers' shares? They are looking to sell to someone else?
    I don't believe it.
    The Rooney are the Steelers.

    From THE Post Gazette (aka Ed Bouchette)

    The Rooney family has been working to restructure the ownership of the Steelers to separate ownership of the team from racetrack and gambling interests also owned by the family, according to a statement from the team today.

    Ownership of a team and of gambling interests by the same parties is inconsistent with NFL policy, the statement said.

    Pittsburgh Steelers Chairman Dan Rooney, the oldest son of team founder the late Art Rooney, said he will "do everything possible to work out a solution to ensure my father's legacy of keeping the Steelers in the Rooney family and in Pittsburgh for at least another 75 years."

    Rooney said he wants to stay in the football business while some of his four brothers plan to focus on the racetracks in New York and Florida and other interests. Dan and his son, Steelers President Art Rooney II, are arranging financing to buy Dan's brothers' shares in the team in order to continue substantial ownership of the franchise by the Rooneys, the statement said.

    "There is no reason to believe that the current internal discussions will have any impact on our fans or on our team this season or in the seasons to come," Art Rooney II said.

    The other Rooney brothers, Art Jr., Timothy, Patrick and John, each has an ownership interest in the Steelers. Another related family, the McGinleys, also owns a minority interest in the team.

    NFL Commissioner Roger Goodell asked former NFL Commissioner Paul Tagliabue to represent the league in discussions with the family in order to reach an agreement on the separation of the gambling interests and on a restructuring of ownership if part of the team is sold, the statement said.

    No worries.
  4. Inky_Wretch

    Inky_Wretch Well-Known Member

    Evil, here's a line from the WSJ that gave rise to the Steelers might be for sale rumor ...

    But some of the brothers and younger third-generation family members are asking whether a better deal can be put together, if there is to be an ownership change.
  5. slappy4428

    slappy4428 Active Member

    By bringing consolidating ownership, would it not make it much easier to turn around and sell?
  6. JayFarrar

    JayFarrar Well-Known Member

    Yep, you put everything together, float a cover story that has to do for other reasons and sell the team.
    Maybe that cat from Seattle would buy them and would take the Steelers to Oklahoma City./Cross thread
  7. 93Devil

    93Devil Well-Known Member

    Three coaches in my lifetime and not being swayed by overpriced, aging free agents every year is something I really enjoy. Also not having ownership question every coaching or transaction has spoiled me.

    A person would be insane to move them (the Colts and Browns did, though), but I really do not want to see a Jerry Jones or Dan Snyder type move into the ownership position.

    I just do not want to see change since nothing seems broken.
  8. Inky_Wretch

    Inky_Wretch Well-Known Member

    Just stab me in the heart why don't you?
  9. JayFarrar

    JayFarrar Well-Known Member

    You gonna cry?
    I can just see the bidding war on the Steelers now ...

    "The Joplin, Missouri Steelers welcome you ..."
  10. Inky_Wretch

    Inky_Wretch Well-Known Member

    I hate you.

    But I'll forgive you in exchange for a delivery of Yuengling within the next five days.
  11. Trey Beamon

    Trey Beamon Active Member

    If the Steelers ever left, Pittsburgh would cease to exist.
  12. JayFarrar

    JayFarrar Well-Known Member

    I can't wait to unload the Yuengling. Be nice to have my fridge back.
    And you have any idea what a full keg weighs. Muscling that thing up a flight of stairs was not fun.

    And go Joplin Steelers ...
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