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Shawn
07-09-2008, 10:31 AM
'Low key' billionaire eyes Steelers
By Carl Prine and Mike Dudurich
TRIBUNE-REVIEW
Wednesday, July 9, 2008

Next time you're at Heinz Field watching the Steelers, the boisterous fan next to you with his face painted black and gold, the guy so into the game he high-fives anyone next to him, might be a multibillionaire who can quote poet T.S. Eliot and spends his free time working with poor kids in Harlem.
He also might own the Steelers.

At the fringe of the Rooney family feud over future ownership of the famed NFL franchise, Stanley Freeman Druckenmiller, 55, reportedly has offered to buy all or part of the team -- although neither he nor his officers in the $4 billion Duquesne Capital Management venture fund he started in 1982 will comment.

The Associated Press reported Tuesday that a deal could be reached within days to sell a majority interest in the Steelers to Druckenmiller, taking control of the franchise away from the Rooney family.

Two officials familiar with the talks said the deal could be completed by the end of the week. Sources told the Associated Press that Druckenmiller wants to include Dan and Art Roooney II in his ownership group.
Even if the deal with Druckenmiller goes through, it would still need approval by 24 of the league's 32 owners.

Friends, golfing buddies at Oakmont Country Club and those who directly benefited from his charity describe Druckenmiller as a humble but complex man of middle-class roots who rabidly roots for the Steelers when he's not orchestrating lucrative global capital schemes.

Golf handicap? Nine. And he's been a member of Oakmont Country Club for three decades. He flips delicious pancakes. He earned degrees in English literature and economics from elite Bowdoin College in Maine, where fellow students recalled him as a genius who was destined to be a professor.

Long married to fellow financial wiz Fiona Biggs Druckenmiller, he believes strongly that his three children should live normal lives akin to his upbringing in the Philadelphia suburbs. Close friends claim he's "brilliant" and "complicated" and unfailingly loyal, a man who hates publicity but who quietly bankrolls many of the nation's top charities.

"With Stanley Druckenmiller, it's family first. I'd like to say friends come second, but the truth, and he'll kill me for saying this, is that I'd never come between him and a Steelers' game, and I'd like to think of myself as a pretty good friend," said Geoffrey Canada with a laugh.

Canada is president and chief executive officer of the Harlem Children's Zone, where Druckenmiller, a New York City resident, chairs the board of directors. Its mission: Provide social services and education programs to thousands of families and their children in one of the nation's poorest neighborhoods.

About once a week, Druckenmiller arrives to work with kids, something Canada says reflects just how "deeply, deeply involved and passionate" Druckenmiller can be.

According to Canada, Druckenmiller has long termed the Steelers' franchise the "best run in America." He high-fives fans in neighboring seats after particularly stellar plays. He grows morose when the Steelers lose.

"I remember he once thanked Dan Rooney for having winning seasons. I can appreciate that because people don't know what it's like to live with Stan when they're losing. I'm telling you, there is no bigger fan of the Steelers than Stanley Druckenmiller."

According to the Wall Street Journal, Druckenmiller has offered to retain Dan Rooney as the Steelers' manager.

Son of a DuPont labor relations representative, Druckenmiller moved often during his childhood. He prepped at Richmond's prestigious Collegiate School, then graduated from Bowdoin in 1975. Twenty-two years later, he'd give the college $35.6 million to revamp the science building, which bears his name.

Instead of finishing advanced degrees in economics at the University of Michigan, he took a job with Pittsburgh National Bank, today's PNC. There he researched stocks before bolting to found his own firm, Duquesne Capital, in 1981. He was 28.

Gravitating to Wall Street, in 1985 he started selling his brainpower part time to mutual fund giant Dreyfus Corp., today a subsidiary of the Bank of New York/ Mellon Financial Corp. In 1988, when he wed Fiona Biggs -- a Dreyfus securities analyst and niece of former Morgan Stanley boss Barton Biggs -- he was running the legendary fund. That same year, he made another marriage of sorts. He forged a partnership with currency speculator and Hungarian-American hedge fund guru George Soros.

In a series of Financial World magazine profiles throughout the 1990s, Druckenmiller was described as a shark poker player who teamed with Soros to engineer highly complex derivatives and currency speculation runs.

Their crowning achievement: breaking the Bank of England in 1992, when London refused to devalue the pound. Selling the currency short reaped the duo more than $1 billion in windfalls, but the financial meltdown became known as "Black Wednesday" in the UK. In 2000, they walked away from the partnership.

While Soros is a well-known bankroller of liberal causes, Druckenmiller and his wife give heavily to both Republican and Democratic candidates and causes. According to federal filings, since 1992 the Druckenmillers have doled out more than $840,000, with 68 percent of it going to Republicans.

Although they've written $192,000 worth of checks during the past three years to the Democratic Senatorial Campaign Committee, Druckenmiller funneled $250,000 to fellow billionaire Mike Bloomberg to jump-start the New York mayor's potential 2008 Republican run for president.

Fiona Druckenmiller put $2,300 down on Democratic presidential candidate Barack Obama in 2007. But her husband recently gave $4,600 to the presumptive Republican presidential nominee, Sen. John McCain of Arizona, also helping his former GOP challenger Mitt Romney with $2,300.

According to Forbes Magazine, Druckenmiller today is worth about $3.5 billion, perhaps three or four times the value of the Steelers if it went up for sale. But he never forgot Pittsburgh.

He returns for the Steelers. And a half-dozen times every year he plays a round at Oakmont Country Club. No one at Oakmont would speak on the record, but it's well understood that he paid for the club's pedestrian span built in 2003, called "Druckenmiller Bridge." That ended a simmering dispute with the PGA that threatened to block tournaments at Oakmont.

Before the U.S. Open last year, Tiger Woods played a round with him, and today a season-long match tournament at the club is named in his honor for returning the pro tour to Pittsburgh. His reputation in the locker room: unfailingly polite, humble, and he never, ever cheats.

Frank Fuhrer, whose locker is five down from Druckenmiller's, has known him for nearly 30 years. Fuhrer says he's "very low key, very pleasant to be around."

"He's just incredible. He's as solid a citizen and as solid an American as there ever was. When he makes friends, he makes them for life. He didn't go to New York and forget about the guys back in Pittsburgh," said Oakmont's head golf pro, Bob Ford. "I told Tiger that Druck is to Wall Street what he is to golf."

During the Open, Kevin Gray, 31, a Kiski Valley native, got a chance to shake Druckenmiller's hand. Now working in Indianapolis in publishing, Gray had caddied at Oakmont from 1993-99, one of a gaggle of teens there who worked hard and made decent grades. When it came time to go to college, a scholarship funded by Druckenmiller gave Gray $11,000, enough to help him afford three years of classes in Pennsylvania and Indiana.

"I was very, very grateful, all those years. I finally got to meet him. I came back to the Open last year, and there he was. He was wearing one of the name tags members get, the special pass. I went over to tell him what he had done for me. You wouldn't know that he was a wealthy man. He stood there like he was any other fan. Very low key, very humble.

"I told him that because of him, I got to go to college. He was just what I thought he would be. A nice guy."

Oviedo
07-09-2008, 10:44 AM
I really wouldn't have a problem with this. He seems to be committed to the city of Pittsburgh and is a huge fan. More importnatly he doesn't need the Steelers to be ridiculously wealthy for the rest of his life and the next several generations of his family. Therefore there is no motivation or pressing need for him to sell for financial reasons. That was always the achilles heel of the Rooney's--their wealth is almost entirely tied up in the value of the Steelers.

The unfortunate thing is this is being brought about by a really stupid NFL rule on gambling. Having other bisunesses that get gambling revenues from something that has absolutely no connection to sports betting should not even be under consideration.

steelblood
07-09-2008, 10:48 AM
I think the other owners with approve this move easily. He has capital, is committed to the STeelers, and wants to keep Dan Rooney as President.

Shawn
07-09-2008, 11:06 AM
Anytime ownership switches hands...it should concern fans. You don't think he would consider moving the team to a bigger market? I do. The Rooneys are a known commodity...this guy is not. This should be concerning to all of us.

birtikidis
07-09-2008, 11:24 AM
i wish the city of pittsburgh owned the steelers, much like green bay is owned by the fans.

Buh-Bye
07-09-2008, 11:26 AM
http://www.post-gazette.com/pg/08191/895718-66.stm


Mr. Druckenmiller declined comment yesterday. However, his friend told the Post-Gazette that it has been Mr. Druckenmiller's "lifelong dream" to own the Steelers and that he has no intention of relocating the team or disrupting the management of the franchise. According to the friend, Mr. Druckenmiller said that Dan Rooney can run the team "as long as he wants."

Mr. Druckenmiller is such a die-hard Steelers fan that he flies from New York to every home game and even paints his face black-and-gold, his friend said.

"I don't think there is any doubt that anyone who looked at this operation would want to have Dan and Art involved," Mr. McGinley said.

NorCal-Steeler
07-09-2008, 11:35 AM
Who gets custody of Steely?

Buh-Bye
07-09-2008, 11:38 AM
Who gets custody of Steely?

Either get rid of Steely or trade him for cheerleaders! :Boobs

frankthetank1
07-09-2008, 11:42 AM
Anytime ownership switches hands...it should concern fans. You don't think he would consider moving the team to a bigger market? I do. The Rooneys are a known commodity...this guy is not. This should be concerning to all of us.

it does concern me but not all that much. the steelers will never move. where would a bigger market be? the size of the burgh doesnt matter at all. the steelers will always sell out and make tons of money. if they moved they probably wouldnt have that kind of a following. unless they moved to vermont than id be all for that haha!!

proudpittsburgher
07-09-2008, 11:44 AM
Who gets custody of Steely?

Hopefully Mr. and Mrs. dumpster get custody.

And, for whatever reason, I never really trusted any of the Rooneys outside of Dan and Art Sr. When I stood out in line for 2 days for tickets to the 94 AFC playoffs, it was Dan who came around and shook hands with all the fans. I trust Dan Rooney, I trusted Art Sr. I don't trust the rest of them, and I feel uneasy that anyone outside of Dan runs the team. Maybe whatever happens will turn out for the best with Mr. Druckenmiller, But I just feel uneasy about it. The SAteelers stand for many things other than just super bowl trophies. I don't want this to turn into a Daniel Snyder situation.

Buh-Bye
07-09-2008, 11:47 AM
Who gets custody of Steely?

Hopefully Mr. and Mrs. dumpster get custody.

And, for whatever reason, I never really trusted any of the Rooneys outside of Dan and Art Sr. When I stood out in line for 2 days for tickets to the 94 AFC playoffs, it was Dan who came around and shook hands with all the fans. I trust Dan Rooney, I trusted Art Sr. I don't trust the rest of them, and I feel uneasy that anyone outside of Dan runs the team. Maybe whatever happens will turn out for the best with Mr. Druckenmiller, But I just feel uneasy about it. The SAteelers stand for many things other than just super bowl trophies. I don't want this to turn into a Daniel Snyder situation.


Yeah, but Dan is 75 years old (76 July 20). How much longer can he run the team? So its either one of the other Rooneys or a billionaire that is a rabid Steelers fan who has stated he will not move the team?

Oviedo
07-09-2008, 11:48 AM
Anytime ownership switches hands...it should concern fans. You don't think he would consider moving the team to a bigger market? I do. The Rooneys are a known commodity...this guy is not. This should be concerning to all of us.

it does concern me but not all that much. the steelers will never move. where would a bigger market be? the size of the burgh doesnt matter at all. the steelers will always sell out and make tons of money. if they moved they probably wouldnt have that kind of a following. unless they moved to vermont than id be all for that haha!!

Got to agree. The Steelers are already a top seller of merchandise. They have anational fan base. Where would they get more with a move? They isn't a bigger market to move this team to bigger than LA and that city has a history of not supporting their team. Pittsburgh has a top notch stadium and a tremendous fan base. At least one of these is what doomed the Browns, Colts and Rams when they moved. No way I see the NFL letting the Steelers ever move.

That said, the Orlando Steelers have a nice ring to it :tt1 :tt1

Just kidding.

steelblood
07-09-2008, 12:11 PM
Anytime ownership switches hands...it should concern fans. You don't think he would consider moving the team to a bigger market? I do. The Rooneys are a known commodity...this guy is not. This should be concerning to all of us.

First, the NFL wouldn't allow it. The Cleveland debacle has assured that no healthy franchise will be moved again. Second, I don't think a rabid steelers fan would consider it. So, no, I'm not concerned.

buckeyehoppy
07-09-2008, 12:42 PM
Druckenmiller seems like one of those guys you'd never suspect of being as rich as he is. He reminds me of former Indians owner D!ck Jacobs, with the possible exception of the fact that there is no team to save and no stadium to build. Druckenmiller has a solid investment to make with the Steelers and he has no worries over a stadium.

For me, Druckenmiller's money is a potential breath of fresh air. I believe, however, that the league won't allow a transfer of controlling interest without his acceptance of Dan Rooney as the Managing Partner. Druckenmiller needs Rooney's expertise on league matters as much as Rooney needs Druckenmiller's $$$.

And the league isn't nearly as naive as it once was concerning ownership issues. I think they learned a boat load when Modell extracted the Clowns from Cleveland. I doubt the league would ever allow that to happen again anywhere without a perfectly legitimate reason. Most NFL cities (Pittsburgh most definitely included) have the ownership structure and the facility (stadium) that will keep most NFL franchises in place for a long while.

The Steelers are a model of stability and management and, I believe, the rest of the management teams among the franchises in the league look to the Steelers as an example of how to do it right. I also believe that the league itself shares the same view.

In short, things are likely to change for the Steelers. Healthy organizations in any business need that from time to time or they become static and inflexible. The Steelers addressing this situation now is far preferable to needing to do the same when Dan passes on.

I believe that the Dan and Art II reaching out to an apparently class act like Stanley Druckenmiller is another way of the Rooney legacy looking out for the long term strength of their life-long passion and investment.

MeetJoeGreene
07-09-2008, 12:54 PM
My initial reaction was that STeeler fans should have concern (or joy) along 2 dimensions -- Location and Managment style.

I think I am reasonably comfortable feeling that he won't move the team -- at least not in the short term. He is a fan and I think he wants to keep it in the Burgh. Long term, however, who knows -- he is a business many after all and his kids may not feel the same way.


I don't think he is a Jerry Jones/Dan Snyder type of owner -- but neither is he a football guy. I would imagine that he will change the management style of the team to some degree. Some may rejoice at this others may bemoan it. There could be some positive changes (more aggressive FA signings) but they could be coupled with other things like increased ticket prices, etc.

One thing is for sure -- things are going to change.

BigBen2112
07-09-2008, 01:07 PM
Who gets custody of Steely?

Hopefully Mr. and Mrs. dumpster get custody.

And, for whatever reason, I never really trusted any of the Rooneys outside of Dan and Art Sr. When I stood out in line for 2 days for tickets to the 94 AFC playoffs, it was Dan who came around and shook hands with all the fans. I trust Dan Rooney, I trusted Art Sr. I don't trust the rest of them, and I feel uneasy that anyone outside of Dan runs the team. Maybe whatever happens will turn out for the best with Mr. Druckenmiller, But I just feel uneasy about it. The SAteelers stand for many things other than just super bowl trophies. I don't want this to turn into a Daniel Snyder situation.


Yeah, but Dan is 75 years old (76 July 20). How much longer can he run the team? So its either one of the other Rooneys or a billionaire that is a rabid Steelers fan who has stated he will not move the team?

Umm...the owners of the Sonics told the previous owners and the city when they bought the team, even told the NBA, that they would not move the team....the Sonics now have begun their pre-season play in Oklahoma City.

The thing here, though, is that I dont see why anyone would want to move the Steelers. Higher revenues from a bigger market? Unlikely. The Steelers sell more merchandise than most big revenue teams...they also get nationally broadcast in terms of prime-time games just as much and have a waiting-list for season tickets longer than ANY other team in the NFL. There is no benefit to moving the Steelers.

However, it doesn't mean that while he's said he wants the Rooneys in charge that he wont change that opinion. I think Rooneys should sell a MINORITY interest to Drunkenmiller and sell the rest to Art/Dan. Even if its 55/45. If Art/Dan cant afford or cant find a way to buy fully the team then simply by the majority interest and let the rest be sold to Drunkenmiller. Hell Art would really only have to buy 2 more "shares" as 3 times the 16.67 that each owner has in the team would equal out to 50.01. Sell the 49.99 to Drunkenmiller and call it a day.

Buh-Bye
07-09-2008, 01:16 PM
Who gets custody of Steely?

Hopefully Mr. and Mrs. dumpster get custody.

And, for whatever reason, I never really trusted any of the Rooneys outside of Dan and Art Sr. When I stood out in line for 2 days for tickets to the 94 AFC playoffs, it was Dan who came around and shook hands with all the fans. I trust Dan Rooney, I trusted Art Sr. I don't trust the rest of them, and I feel uneasy that anyone outside of Dan runs the team. Maybe whatever happens will turn out for the best with Mr. Druckenmiller, But I just feel uneasy about it. The SAteelers stand for many things other than just super bowl trophies. I don't want this to turn into a Daniel Snyder situation.


Yeah, but Dan is 75 years old (76 July 20). How much longer can he run the team? So its either one of the other Rooneys or a billionaire that is a rabid Steelers fan who has stated he will not move the team?

Umm...the owners of the Sonics told the previous owners and the city when they bought the team, even told the NBA, that they would not move the team....the Sonics now have begun their pre-season play in Oklahoma City.


Um, the SuperSonics were purchased by Oklahoma City businessman Clay Bennett, where they eventually ended up. Mr. Bennett was not a die hard Seattle fan nor had ties to the area the way Druckenmiller does.

RuthlessBurgher
07-09-2008, 01:16 PM
Who gets custody of Steely?

Hopefully Mr. and Mrs. dumpster get custody.

And, for whatever reason, I never really trusted any of the Rooneys outside of Dan and Art Sr. When I stood out in line for 2 days for tickets to the 94 AFC playoffs, it was Dan who came around and shook hands with all the fans. I trust Dan Rooney, I trusted Art Sr. I don't trust the rest of them, and I feel uneasy that anyone outside of Dan runs the team. Maybe whatever happens will turn out for the best with Mr. Druckenmiller, But I just feel uneasy about it. The SAteelers stand for many things other than just super bowl trophies. I don't want this to turn into a Daniel Snyder situation.


Yeah, but Dan is 75 years old (76 July 20). How much longer can he run the team? So its either one of the other Rooneys or a billionaire that is a rabid Steelers fan who has stated he will not move the team?

Umm...the owners of the Sonics told the previous owners and the city when they bought the team, even told the NBA, that they would not move the team....the Sonics now have begun their pre-season play in Oklahoma City.

The thing here, though, is that I dont see why anyone would want to move the Steelers. Higher revenues from a bigger market? Unlikely. The Steelers sell more merchandise than most big revenue teams...they also get nationally broadcast in terms of prime-time games just as much and have a waiting-list for season tickets longer than ANY other team in the NFL. There is no benefit to moving the Steelers.

However, it doesn't mean that while he's said he wants the Rooneys in charge that he wont change that opinion. I think Rooneys should sell a MINORITY interest to Drunkenmiller and sell the rest to Art/Dan. Even if its 55/45. If Art/Dan cant afford or cant find a way to buy fully the team then simply by the majority interest and let the rest be sold to Drunkenmiller. Hell Art would really only have to buy 2 more "shares" as 3 times the 16.67 that each owner has in the team would equal out to 50.01. Sell the 49.99 to Drunkenmiller and call it a day.

Where did you get the 16.67 number from? I thought the 5 Rooney brothers had 16% each, and the McGinley family had the remaining 20%.

Buh-Bye
07-09-2008, 01:21 PM
Who gets custody of Steely?

Hopefully Mr. and Mrs. dumpster get custody.

And, for whatever reason, I never really trusted any of the Rooneys outside of Dan and Art Sr. When I stood out in line for 2 days for tickets to the 94 AFC playoffs, it was Dan who came around and shook hands with all the fans. I trust Dan Rooney, I trusted Art Sr. I don't trust the rest of them, and I feel uneasy that anyone outside of Dan runs the team. Maybe whatever happens will turn out for the best with Mr. Druckenmiller, But I just feel uneasy about it. The SAteelers stand for many things other than just super bowl trophies. I don't want this to turn into a Daniel Snyder situation.


Yeah, but Dan is 75 years old (76 July 20). How much longer can he run the team? So its either one of the other Rooneys or a billionaire that is a rabid Steelers fan who has stated he will not move the team?

Umm...the owners of the Sonics told the previous owners and the city when they bought the team, even told the NBA, that they would not move the team....the Sonics now have begun their pre-season play in Oklahoma City.

The thing here, though, is that I dont see why anyone would want to move the Steelers. Higher revenues from a bigger market? Unlikely. The Steelers sell more merchandise than most big revenue teams...they also get nationally broadcast in terms of prime-time games just as much and have a waiting-list for season tickets longer than ANY other team in the NFL. There is no benefit to moving the Steelers.

However, it doesn't mean that while he's said he wants the Rooneys in charge that he wont change that opinion. I think Rooneys should sell a MINORITY interest to Drunkenmiller and sell the rest to Art/Dan. Even if its 55/45. If Art/Dan cant afford or cant find a way to buy fully the team then simply by the majority interest and let the rest be sold to Drunkenmiller. Hell Art would really only have to buy 2 more "shares" as 3 times the 16.67 that each owner has in the team would equal out to 50.01. Sell the 49.99 to Drunkenmiller and call it a day.

Where did you get the 16.67 number from? I thought the 5 Rooney brothers had 16% each, and the McGinley family had the remaining 20%.

That is the case.

BigBen2112
07-09-2008, 01:24 PM
Who gets custody of Steely?

Hopefully Mr. and Mrs. dumpster get custody.

And, for whatever reason, I never really trusted any of the Rooneys outside of Dan and Art Sr. When I stood out in line for 2 days for tickets to the 94 AFC playoffs, it was Dan who came around and shook hands with all the fans. I trust Dan Rooney, I trusted Art Sr. I don't trust the rest of them, and I feel uneasy that anyone outside of Dan runs the team. Maybe whatever happens will turn out for the best with Mr. Druckenmiller, But I just feel uneasy about it. The SAteelers stand for many things other than just super bowl trophies. I don't want this to turn into a Daniel Snyder situation.


Yeah, but Dan is 75 years old (76 July 20). How much longer can he run the team? So its either one of the other Rooneys or a billionaire that is a rabid Steelers fan who has stated he will not move the team?

Umm...the owners of the Sonics told the previous owners and the city when they bought the team, even told the NBA, that they would not move the team....the Sonics now have begun their pre-season play in Oklahoma City.

The thing here, though, is that I dont see why anyone would want to move the Steelers. Higher revenues from a bigger market? Unlikely. The Steelers sell more merchandise than most big revenue teams...they also get nationally broadcast in terms of prime-time games just as much and have a waiting-list for season tickets longer than ANY other team in the NFL. There is no benefit to moving the Steelers.

However, it doesn't mean that while he's said he wants the Rooneys in charge that he wont change that opinion. I think Rooneys should sell a MINORITY interest to Drunkenmiller and sell the rest to Art/Dan. Even if its 55/45. If Art/Dan cant afford or cant find a way to buy fully the team then simply by the majority interest and let the rest be sold to Drunkenmiller. Hell Art would really only have to buy 2 more "shares" as 3 times the 16.67 that each owner has in the team would equal out to 50.01. Sell the 49.99 to Drunkenmiller and call it a day.

Where did you get the 16.67 number from? I thought the 5 Rooney brothers had 16% each, and the McGinley family had the remaining 20%.

Yeah you're correct...sorry about that.

BigBen2112
07-09-2008, 01:25 PM
Who gets custody of Steely?

Hopefully Mr. and Mrs. dumpster get custody.

And, for whatever reason, I never really trusted any of the Rooneys outside of Dan and Art Sr. When I stood out in line for 2 days for tickets to the 94 AFC playoffs, it was Dan who came around and shook hands with all the fans. I trust Dan Rooney, I trusted Art Sr. I don't trust the rest of them, and I feel uneasy that anyone outside of Dan runs the team. Maybe whatever happens will turn out for the best with Mr. Druckenmiller, But I just feel uneasy about it. The SAteelers stand for many things other than just super bowl trophies. I don't want this to turn into a Daniel Snyder situation.


Yeah, but Dan is 75 years old (76 July 20). How much longer can he run the team? So its either one of the other Rooneys or a billionaire that is a rabid Steelers fan who has stated he will not move the team?

Umm...the owners of the Sonics told the previous owners and the city when they bought the team, even told the NBA, that they would not move the team....the Sonics now have begun their pre-season play in Oklahoma City.


Um, the SuperSonics were purchased by Oklahoma City businessman Clay Bennett, where they eventually ended up. Mr. Bennett was not a die hard Seattle fan nor had ties to the area the way Druckenmiller does.

But has it been reported or not that Bennett told Seattle and the NBA he would not move the team?

And he still did. I was just pointing that out.

LasVegasGuy
07-09-2008, 01:28 PM
Maybe now we can build an 80,000 to 100,000 seat stadium and I can finally get some season tickets. Oh yea! We can also get rid of that stinkin' so called grass they play on and hire a real head coach not a work in progress.

http://biz.yahoo.com/ap/080709/fbn_stee ... rship.html (http://biz.yahoo.com/ap/080709/fbn_steelers_ownership.html)

Buh-Bye
07-09-2008, 01:30 PM
But has it been reported or not that Bennett told Seattle and the NBA he would not move the team?

And he still did. I was just pointing that out.

Yeah, I understand. But again, this guy had no ties and ultimately wanted the team back in Oklahoma. He probably knew right off that Seattle wouldnt build a new arena, which was a perfect scenario to carry that plan out. At least Druckenmiller has ties to the area and flies in for home games and is described by friends as a rabid Steelers fan. Whole lot better than some billionaire from Vegas, LA or wherever buying the team that has no ties at all. That would definitely concern me.


FYI.....


In 2006, the Sonics were sold to an investment group led by Clayton Bennett, who said the team would stay in Seattle if a new arena complex was built. Yet, in August 2007, Sonics co-owner Aubrey McClendon announced publicly to The Journal Record that, "we didn't buy the team to keep it in Seattle; we hoped to come here." [6] After receiving a private warning from NBA commissioner David Stern, Bennett responded, assuring Stern that, "As absolutely remarkable as it may seem, Aubrey and I have NEVER discussed moving the Sonics to Oklahoma City, nor have I discussed it with ANY other member of our ownership group."[7] After several attempts to try and get Washington state and local governments to fund a $500 million dollar arena complex in Renton, Washington, Bennett requested arbitration with the City of Seattle to be released from their lease on KeyArena[8] and notified the NBA that he wanted to relocate the team to Oklahoma City.[9] When the arbitration request was rejected by a judge, the City of Seattle sued Bennett's ownership group to force them to stay until the end of the lease.[10]

During the discovery portion of the city's lawsuit, several emails between the members of the ownership group were found that seemed to indicate they purchased the team with the intention of moving it to Oklahoma City and had never intended on keeping the team in Seattle. The city's attorney's used these emails and the comments by McClendon to argue that the team did not negotiate in good faith with the City. Bennett's attorney's filed a motion accusing the city of duplicity by suing the team to make "the Oklahomans' bleed cash in a hostile media environment" and force them to sell to a local ownership group led by Microsoft CEO Steve Ballmer.[11]

The move for the 2008-2009 season was given approval by the NBA Board of Governors pending the outcome of litigation over the lease and ownership of the team. A court session began on June 16 to determine if the Sonics can move to Oklahoma City for the 2008-2009 NBA season or if they must honor their lease with KeyArena and remain in Seattle until 2010.[12][13] On July 2, just hours before the judge was to release her ruling, it was announced that the team and city had reached a settlement, allowing the team to move to Oklahoma City.[14] In exchange for $45 million immediately, the possibility of an additional $30 million in 2013 if a new team has not been found for the city, and leaving behind the team's name and history, the city agreed to release PBC from the KeyArena lease.[15]

Following the revelation of the emails between the current ownership group, former owner, Howard Schultz, filed a lawsuit to have the court take control of the team citing fraud and misrepresentation in buying the team and for breach of contract after the purchase.[16] Schultz's lawsuit was not included in the settlement between the city and PBC.

RuthlessBurgher
07-09-2008, 01:32 PM
No problem...just thought you might know something that I didn't. The 16-16-16-16-16-20 split seemed a bit too neat and clean.

It is interesting that all 5 brothers are still alive, considering that they should all be in their 70's by now.

This would probably be much more of a difficult transition if one or more of them had died and dealings would have to be made with several of the Chief's numerous grandchildren as well as the brothers.

buckeyehoppy
07-09-2008, 01:38 PM
One thing to keep in mind about the Steelers leaving Pittsburgh is that it'll never happen...and here's why:

As the league operates somewhat collectively in terms of merchandising, the financial fallout of a Steelers team that isn't in Pittsburgh would potentially destroy the "Steelers brand" to the point that the rest of the merchandising revenue for the league would suffer. The other NFL owners, who have a huge stake in how their teams are merchandised and marketed, would never allow that to happen. It would be a direct assault on their profitability.

Consider, for example, how much the Cleveland Cavaliers would be devalued if LeBron James was not a part of that franchise. Prior to the Cavaliers winning the draft lottery that allowed them to draft LeBron, the team's future in Cleveland hung in the balance. I would submit to you all that if it wasn't for LeBron James, there might not be a Cleveland Cavaliers today.

Much like LeBron means the world to the Cavaliers, the Steelers being in Pittsburgh means the world to the NFL. The Steelers value to the league will never be higher anywhere else but Pittsburgh and, I'd submit to you all, that the team would be worth less anywhere else but Pittsburgh. The league and its confederation of owners ignore that reality at the expense of future profits to themselves or the league in general.

The Steelers are a cash cow for the league and Stan Druckenmiller's involvement will heighten that ability for the Steelers and the league. The league plays with any potential future move of the Steelers at the risk of their own future profit margin.

Shawn
07-09-2008, 03:07 PM
Who gets custody of Steely?

Hopefully Mr. and Mrs. dumpster get custody.

And, for whatever reason, I never really trusted any of the Rooneys outside of Dan and Art Sr. When I stood out in line for 2 days for tickets to the 94 AFC playoffs, it was Dan who came around and shook hands with all the fans. I trust Dan Rooney, I trusted Art Sr. I don't trust the rest of them, and I feel uneasy that anyone outside of Dan runs the team. Maybe whatever happens will turn out for the best with Mr. Druckenmiller, But I just feel uneasy about it. The SAteelers stand for many things other than just super bowl trophies. I don't want this to turn into a Daniel Snyder situation.


Yeah, but Dan is 75 years old (76 July 20). How much longer can he run the team? So its either one of the other Rooneys or a billionaire that is a rabid Steelers fan who has stated he will not move the team?


Just a question...do you think the Rooneys would sell the Steelers to someone who said he would move the team? I personally doubt it. He might very well be a fan but when hundreds of millions are involved...I trust very few people...especially a new owner. If he intended to move the team...he would be saying the same thing.

Jigawatts
07-09-2008, 03:16 PM
Anytime ownership switches hands...it should concern fans. You don't think he would consider moving the team to a bigger market? I do. The Rooneys are a known commodity...this guy is not. This should be concerning to all of us.

:Agree

There are only about three markets without an NFL franchise that are bigger than
Pittsburgh's market.

1) Los Angeles - We all know how well football works in L.A.
2) Orlando - Whose territory is this anyway? Dolphins? Jaguars? Bucs?
3) Sacramento - Seems like that would be 9r's country.

With that said, I couldn't fathom anybody moving the Steelers out of Pittsburgh,
but, there's always the possibility with new ownership. The sky is not falling, but
nevertheless, I don't like change.

Buh-Bye
07-09-2008, 03:22 PM
Who gets custody of Steely?

Hopefully Mr. and Mrs. dumpster get custody.

And, for whatever reason, I never really trusted any of the Rooneys outside of Dan and Art Sr. When I stood out in line for 2 days for tickets to the 94 AFC playoffs, it was Dan who came around and shook hands with all the fans. I trust Dan Rooney, I trusted Art Sr. I don't trust the rest of them, and I feel uneasy that anyone outside of Dan runs the team. Maybe whatever happens will turn out for the best with Mr. Druckenmiller, But I just feel uneasy about it. The SAteelers stand for many things other than just super bowl trophies. I don't want this to turn into a Daniel Snyder situation.


Yeah, but Dan is 75 years old (76 July 20). How much longer can he run the team? So its either one of the other Rooneys or a billionaire that is a rabid Steelers fan who has stated he will not move the team?


Just a question...do you think the Rooneys would sell the Steelers to someone who said he would move the team? I personally doubt it. He might very well be a fan but when hundreds of millions are involved...I trust very few people...especially a new owner. If he intended to move the team...he would be saying the same thing.

As stated above with the Sonics situation, if it were a billionaire owner with no ties to the Burgh, not a fan of the team and from one of the markets that wants a team, yes I would worry. I dont see that with this situation.

Question: You are from the Burgh, a rabid fan that comes back for home games, has ties in the community and you happen to be a billionaire and you want to buy the Steelers.

Would you move them?

Oviedo
07-09-2008, 03:27 PM
Anytime ownership switches hands...it should concern fans. You don't think he would consider moving the team to a bigger market? I do. The Rooneys are a known commodity...this guy is not. This should be concerning to all of us.

:Agree

There are only about three markets without an NFL franchise that are bigger than
Pittsburgh's market.

1) Los Angeles - We all know how well football works in L.A.
2) Orlando - Whose territory is this anyway? Dolphins? Jaguars? Bucs?
3) Sacramento - Seems like that would be 9r's country.

With that said, I couldn't fathom anybody moving the Steelers out of Pittsburgh,
but, there's always the possibility with new ownership. The sky is not falling, but
nevertheless, I don't like change.


2) Orlando - Whose territory is this anyway? Dolphins? Jaguars? Bucs?

The NFL has tried to make Orlando Jaguar country and has failed mserably. Jacksonville isn't even really Jag country. The most predominant NFL colors in the Orlando area are Black and Gold. You see more fans wearing Steelers gear or Steelers logos on cars than any other team.

Problems with the three cities you mention:

1. LA is a college football town. The NFL will always be #2 to USC. The Raiders found that out.
2. Orlando futher splits Florida when support for the Jags and Bucs is already lukewarm. The Jags are clearly the most likely NFL team to move in the future. Fan support is about 6" deep. There were more Steelers fans at their stadium last time the Steelers played there than Jags fans.
3. Sacremento would be stepping on both 49ers and Raiders. No way that happens.

Las Vegas? No way. The whole reason we are having this discussion is because of the NFL's needless parnoia over gambling whether sports based or not.

Jigawatts
07-09-2008, 03:56 PM
Anytime ownership switches hands...it should concern fans. You don't think he would consider moving the team to a bigger market? I do. The Rooneys are a known commodity...this guy is not. This should be concerning to all of us.

:Agree

There are only about three markets without an NFL franchise that are bigger than
Pittsburgh's market.

1) Los Angeles - We all know how well football works in L.A.
2) Orlando - Whose territory is this anyway? Dolphins? Jaguars? Bucs?
3) Sacramento - Seems like that would be 9r's country.

With that said, I couldn't fathom anybody moving the Steelers out of Pittsburgh,
but, there's always the possibility with new ownership. The sky is not falling, but
nevertheless, I don't like change.


2) Orlando - Whose territory is this anyway? Dolphins? Jaguars? Bucs?

The NFL has tried to make Orlando Jaguar country and has failed mserably. Jacksonville isn't even really Jag country. The most predominant NFL colors in the Orlando area are Black and Gold. You see more fans wearing Steelers gear or Steelers logos on cars than any other team.

I've been to Orlando quite a few times in the past few years, and believe me, I notice
this. It's amazing how many cars I see with personalized plates, stickers, flags, etc.
:tt2 :tt2 :tt2

LasVegasGuy
07-09-2008, 05:03 PM
Anytime ownership switches hands...it should concern fans. You don't think he would consider moving the team to a bigger market? I do. The Rooneys are a known commodity...this guy is not. This should be concerning to all of us.

:Agree

There are only about three markets without an NFL franchise that are bigger than
Pittsburgh's market.

1) Los Angeles - We all know how well football works in L.A.
2) Orlando - Whose territory is this anyway? Dolphins? Jaguars? Bucs?
3) Sacramento - Seems like that would be 9r's country.

With that said, I couldn't fathom anybody moving the Steelers out of Pittsburgh,
but, there's always the possibility with new ownership. The sky is not falling, but
nevertheless, I don't like change.


2) Orlando - Whose territory is this anyway? Dolphins? Jaguars? Bucs?

The NFL has tried to make Orlando Jaguar country and has failed mserably. Jacksonville isn't even really Jag country. The most predominant NFL colors in the Orlando area are Black and Gold. You see more fans wearing Steelers gear or Steelers logos on cars than any other team.

Problems with the three cities you mention:

1. LA is a college football town. The NFL will always be #2 to USC. The Raiders found that out.
2. Orlando futher splits Florida when support for the Jags and Bucs is already lukewarm. The Jags are clearly the most likely NFL team to move in the future. Fan support is about 6" deep. There were more Steelers fans at their stadium last time the Steelers played there than Jags fans.
3. Sacremento would be stepping on both 49ers and Raiders. No way that happens.

Las Vegas? No way. The whole reason we are having this discussion is because of the NFL's needless parnoia over gambling whether sports based or not.

Vegas would be cool for me but will never happen. I don't see a professional sports team of any kind surviving in this city. :2c

Shawn
07-09-2008, 05:25 PM
Who gets custody of Steely?

Hopefully Mr. and Mrs. dumpster get custody.

And, for whatever reason, I never really trusted any of the Rooneys outside of Dan and Art Sr. When I stood out in line for 2 days for tickets to the 94 AFC playoffs, it was Dan who came around and shook hands with all the fans. I trust Dan Rooney, I trusted Art Sr. I don't trust the rest of them, and I feel uneasy that anyone outside of Dan runs the team. Maybe whatever happens will turn out for the best with Mr. Druckenmiller, But I just feel uneasy about it. The SAteelers stand for many things other than just super bowl trophies. I don't want this to turn into a Daniel Snyder situation.


Yeah, but Dan is 75 years old (76 July 20). How much longer can he run the team? So its either one of the other Rooneys or a billionaire that is a rabid Steelers fan who has stated he will not move the team?


Just a question...do you think the Rooneys would sell the Steelers to someone who said he would move the team? I personally doubt it. He might very well be a fan but when hundreds of millions are involved...I trust very few people...especially a new owner. If he intended to move the team...he would be saying the same thing.

As stated above with the Sonics situation, if it were a billionaire owner with no ties to the Burgh, not a fan of the team and from one of the markets that wants a team, yes I would worry. I dont see that with this situation.

Question: You are from the Burgh, a rabid fan that comes back for home games, has ties in the community and you happen to be a billionaire and you want to buy the Steelers.

Would you move them?

I guess it would depend on how greedy I am. All I know is this...change of ownership scares me. I'm glad the rest of you will sleep well.

BigBen2112
07-09-2008, 06:35 PM
One thing to keep in mind about the Steelers leaving Pittsburgh is that it'll never happen...and here's why:

As the league operates somewhat collectively in terms of merchandising, the financial fallout of a Steelers team that isn't in Pittsburgh would potentially destroy the "Steelers brand" to the point that the rest of the merchandising revenue for the league would suffer. The other NFL owners, who have a huge stake in how their teams are merchandised and marketed, would never allow that to happen. It would be a direct assault on their profitability.

Consider, for example, how much the Cleveland Cavaliers would be devalued if LeBron James was not a part of that franchise. Prior to the Cavaliers winning the draft lottery that allowed them to draft LeBron, the team's future in Cleveland hung in the balance. I would submit to you all that if it wasn't for LeBron James, there might not be a Cleveland Cavaliers today.

Much like LeBron means the world to the Cavaliers, the Steelers being in Pittsburgh means the world to the NFL. The Steelers value to the league will never be higher anywhere else but Pittsburgh and, I'd submit to you all, that the team would be worth less anywhere else but Pittsburgh. The league and its confederation of owners ignore that reality at the expense of future profits to themselves or the league in general.

The Steelers are a cash cow for the league and Stan Druckenmiller's involvement will heighten that ability for the Steelers and the league. The league plays with any potential future move of the Steelers at the risk of their own future profit margin.

Might not be the best idea to compare LeBron when he might be leaving in a couple years for NY/NJ.

SteelHoss
07-09-2008, 06:56 PM
I'm not worried about the team leaving Pittsburgh. There are too many financial and legal ties to keep them here for many years. Druckenmiller sounds like a solid guy and true B & G Steeler fan. He is willing to keep the team in Pittsburgh as well as allowing the Rooneys to continue as the managing partners. However, a concern that might be worth discussing would be the mortality of Dan and his heir apparent Art II and Druckenmiller himself. My concerns give rise to this question:
Would their heirs keep alive the Steeler tradition or would the Steelers become a franchise allowed to survive only to be sucked dry by greedy and inept owners as in the case of the pathetic Pittsburgh Pirates? That question scares the H### out of me. :stirpot

RuthlessBurgher
07-09-2008, 07:03 PM
I'm not worried about the team leaving Pittsburgh. There are too many financial and legal ties to keep them here for many years. Druckenmiller sounds like a solid guy and true B & G Steeler fan. He is willing to keep the team in Pittsburgh as well as allowing the Rooneys to continue as the managing partners. However, a concern that might be worth discussing would be the mortality of Dan and his heir apparent Art II and Druckenmiller himself. My concerns give rise to this question:
Would their heirs keep alive the Steeler tradition or would the Steelers become a franchise allowed to survive only to be sucked dry by greedy and inept owners as in the case of the pathetic Pittsburgh Pirates? That question scares the H### out of me. :stirpot

The economics of baseball and the economics of football are two completely different animals. That has a lot to do with why most of us are mourning a summer without football, while acknowledging that baseball sucks out loud.

Ozey74
07-09-2008, 07:15 PM
Anytime ownership switches hands...it should concern fans. You don't think he would consider moving the team to a bigger market? I do. The Rooneys are a known commodity...this guy is not. This should be concerning to all of us.

:Agree

There are only about three markets without an NFL franchise that are bigger than
Pittsburgh's market.

1) Los Angeles - We all know how well football works in L.A.
2) Orlando - Whose territory is this anyway? Dolphins? Jaguars? Bucs?
3) Sacramento - Seems like that would be 9r's country.

With that said, I couldn't fathom anybody moving the Steelers out of Pittsburgh,
but, there's always the possibility with new ownership. The sky is not falling, but
nevertheless, I don't like change.


Drunkenmiller's Old Lady is from the Burg'. I bet he wouldn't want to piss off the in-laws by moving them.....

Les 74
07-09-2008, 07:36 PM
Is this article for real????And where is it from???The Trib...........never heard of it!!! :wink: :lol:

Shawn
07-09-2008, 07:44 PM
Is this article for real????And where is it from???The Trib...........never heard of it!!! :wink: :lol:

Excellent! :D

BigBen2112
07-09-2008, 07:46 PM
Is this article for real????And where is it from???The Trib...........never heard of it!!! :wink: :lol:

Excellent! :D

What's it called?

Shawn
07-09-2008, 07:48 PM
Is this article for real????And where is it from???The Trib...........never heard of it!!! :wink: :lol:

Excellent! :D

What's it called?

What are you talking about???

:D

BigBen2112
07-09-2008, 07:51 PM
Is this article for real????And where is it from???The Trib...........never heard of it!!! :wink: :lol:

Excellent! :D

What's it called?

What are you talking about???

:D

As long as Doyle isn't coming here I'll post here. :D

stlrz d
07-09-2008, 08:05 PM
1) He's not going to move the team. That would be a serious financial mistake.

2) The fact that he has money outside of football (like other owners) is a good thing.

3) Tomlin is a fine coach and will be with the Steelers for many years.

Les 74
07-09-2008, 08:05 PM
Is this article for real????And where is it from???The Trib...........never heard of it!!! :wink: :lol:

Excellent! :D

What's it called?

What are you talking about???

:D

As long as Doyle isn't coming here I'll post here. :D

Uh-oh!!!What happened between you and Doyle??

BigBen2112
07-09-2008, 09:47 PM
Uh-oh!!!What happened between you and Doyle??

Nothing...Doyle's problem is with himself. :lol: :lol: :lol:

NKySteeler
07-11-2008, 07:43 PM
Our team/organization has been fortunate to experience a quality ownership by a family that has kept it true.... Any change concerns me greatly. I can only imagine that "quality" would decrease within the "mohogany offices", and compromise what we have grown to love. .... I do not like this....

stlrz d
07-11-2008, 10:10 PM
Our team/organization has been fortunate to experience a quality ownership by a family that has kept it true.... Any change concerns me greatly. I can only imagine that "quality" would decrease within the "mohogany offices", and compromise what we have grown to love. .... I do not like this....

Why would quality decrease? This guy has money outside of football...that means he can spend on things that don't fall under the salary cap. Things the Rooneys may have been reluctant to spend money on!

papillon
07-11-2008, 10:23 PM
The deal between the Steelers and the stadium authority almost guarantees that the Steelers will be in Pittsburgh into the foreseeable future. A successful business man didn't get that way by pissing away money and that's what he'd be doing by breaking the lease with the stadium authority.

Assuming the worst with this guy is a lot of Chicken Little thinking and the deal isn't done yet. It sounds like Dan and Art II can't afford to buy out "all of the brothers, what if they can talk 2 of them into selling for 160 million per that is being bandied around? That gives Dan 48% ownership and enough I believe to still be considered the majority owner.

There's a lot that has to be played out in this story and it's just beginning I believe.

SMG, you have my permission to sleep easy, the Steelers aren't going anywhere. :moon :P

Pappy

NKySteeler
07-11-2008, 10:23 PM
Our team/organization has been fortunate to experience a quality ownership by a family that has kept it true.... Any change concerns me greatly. I can only imagine that "quality" would decrease within the "mohogany offices", and compromise what we have grown to love. .... I do not like this....

Why would quality decrease? This guy has money outside of football...that means he can spend on things that don't fall under the salary cap. Things the Rooneys may have been reluctant to spend money on!

... Yes, the Rooneys have been reluctant to spend money at times.... Look what it has gotten them. One of the teams in the league with one of the best winning records over recent years %-wise.... Do you want a "Dan Snyder-type" owner?.... I don't... I like the quality product that the Rooneys' provide... There's a helluva lot more to it than money. And THAT'S what concerns me....

stlrz d
07-11-2008, 11:08 PM
Our team/organization has been fortunate to experience a quality ownership by a family that has kept it true.... Any change concerns me greatly. I can only imagine that "quality" would decrease within the "mohogany offices", and compromise what we have grown to love. .... I do not like this....

Why would quality decrease? This guy has money outside of football...that means he can spend on things that don't fall under the salary cap. Things the Rooneys may have been reluctant to spend money on!

... Yes, the Rooneys have been reluctant to spend money at times.... Look what it has gotten them. One of the teams in the league with one of the best winning records over recent years %-wise.... Do you want a "Dan Snyder-type" owner?.... I don't... I like the quality product that the Rooneys' provide... There's a helluva lot more to it than money. And THAT'S what concerns me....

Of course I don't want a Dan/Jerry type owner and this guy has not given any indication that he is that type of person. My point about him having money outside of football means he can spend on non-salary cap expenses.

This guy is a smart businessman and he knows what he'd have in the Steelers. He didn't get where he is today by making serious business blunders. Messing with the organization would be a serious business blunder. Rest easy my friend...everything will be fine.

Shawn
07-11-2008, 11:28 PM
Any money the Rooneys have been unwilling to spend seems to be wise moves. I can't think of one thing they could have spent money on and didn't...that would have made this team better.

stlrz d
07-12-2008, 10:58 AM
Any money the Rooneys have been unwilling to spend seems to be wise moves. I can't think of one thing they could have spent money on and didn't...that would have made this team better.

Just because you can't think of any doesn't mean there aren't any.

-----

Sorry, but I think too many people are overly concerned about this situation. Everyone connected to the organization keeps screaming that it will be business as usual but a bunch of people on a message board (who aren't privy to anything that goes on behind closed doors) know better?

Please. :roll:

Ozey74
07-12-2008, 01:03 PM
Any money the Rooneys have been unwilling to spend seems to be wise moves. I can't think of one thing they could have spent money on and didn't...that would have made this team better.

Just because you can't think of any doesn't mean there aren't any.



Mike Vrabel would of been nice to have.