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fordfixer
02-23-2009, 01:41 AM
Bittersweet moment for Steelers' Rooney brothers

http://www.post-gazette.com/pg/09054/951009-66.stm

With the restructuring of team's ownership on track for March closing, the brothers reflect on final Super Bowl
Monday, February 23, 2009
By Ed Bouchette, Pittsburgh Post-Gazette


The photo, taken moments after Super Bowl XLIII ended, shows four Rooney brothers posing on the confetti-covered field in Tampa, Fla., after the Steelers defeated the Arizona Cardinals.

Six rings all around for Pat, John, Tim and Art Rooney Jr., who collectively own 64 percent of the team their father founded.

There is only one thing missing from that photo: smiles.

"It was a great way for the end, as my dad left the team," Art Rooney Jr. said, "with all of us being on the field and Dan at the podium taking the Super Bowl trophy."

The four brothers were happy in that photo, Art insists, but sad at the same time, which is probably why none is smiling.

"We realized -- all four of us -- that it was the end as dad left it to us. Nobody talked about it, though. It's a nice picture, although with no smiles. We still had our game faces on."

Two of those four Rooneys will sell all of their stock in the team when the closing takes place, and the other two will sell about half of what they have owned since their father, Art Sr., died in 1988.

That closing is on schedule to occur by the end of March, sources on both sides told the Pittsburgh Post-Gazette. That is the timetable their brother, Dan Rooney, and his son, Art II, gave the National Football League when league owners unanimously approved the restructuring of the franchise in December. No complications developed nor are any expected before the deal closes, although they are working on minor details.

Brothers John and Art Rooney Jr. will maintain about half of their previous 16 percent ownership stake each. Brothers Pat and Tim Rooney will sell all of their 16 percent each and remain in the racing and casino businesses.

A requirement by the NFL that the Rooneys either divest themselves of their interest in the casinos or the team prompted the restructuring. Also, the league requires that each team have a partner who owns at least 30 percent. In the restructuring of the Steelers, the league has approved a joint 30 percent ownership by Dan and his son.

As part of the new ownership, at least three new major partners are buying into the team at unspecified amounts. They are Thomas Tull, a film producer based in Los Angeles; James Haslam III, president of Pilot Travel Centers; and the Paul family of Pittsburgh. Other minor investors also might surface.

J.B. Smith, a venture capitalist from Detroit who announced early this month that he was talking to the Rooneys about becoming a fourth major investor, is not part of the deal. Sources say there never were negotiations between him and the Rooneys.

The McGinley family of Pittsburgh, which has owned 20 percent of the team, also is selling some of its shares in the restructuring.

The photo of four Rooney brothers on the field after winning their sixth Super Bowl not only will be the last under those circumstances, it was the first. Art Rooney Jr. said they never went onto the field after the previous five Super Bowl victories.

"We were lucky to get into the inner circle after the game, but it worked out well," he said. "It was bittersweet, but what a way to say goodbye!"

Ed Bouchette can be reached at ebouchette@post-gazette.com.
First published on February 23, 2009 at 12:00 am

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Could someone please post the pic they are talking about i can't for some reason :oops:

Djfan
02-23-2009, 01:45 AM
Bittersweet is right. Bummer. Thank GOD the Rooneys are still running the ship, though.

fordfixer
02-23-2009, 02:00 AM
If your going to go out you might as well go out on top. :tt1

buckeyehoppy
02-23-2009, 02:28 AM
It's good karma that the departing brothers were all there in the end. They have their interests and were willing to entrust the team to Dan's family. It doesn't seem like there are any hard feelings over the pending close.

Hopefully, the departing Rooneys will continue to do well with their non-football ventures. That's the best the Steeler Universe can do is send its best wishes.

:Cheers to the departing Rooneys and best of luck! :tt1 :tt1 :tt1

feltdizz
02-23-2009, 12:39 PM
they do not look happy...

Ghost
02-23-2009, 12:45 PM
I KNOW this is the fan in me talking but I cannot imagine in any form how you would take your shares in the Steelers and just sell them all off b/c you want to own slot machines.

feltdizz
02-23-2009, 01:33 PM
I KNOW this is the fan in me talking but I cannot imagine in any form how you would take your shares in the Steelers and just sell them all off b/c you want to own slot machines.

when you see the numbers you may change your mind.

as much as I love the Steelers I wonder how much I would love the day to day operations in the office. Sure it sounds great but the 60 minutes of football is so small in comparison to the business as a whole.


the return on the slots is probably 5 to 6 times what they make as owners...
there is a reason teams are sold every other year...the profit isn't that large compared to other businesses.

RuthlessBurgher
02-23-2009, 04:15 PM
Could someone please post the pic they are talking about i can't for some reason :oops:

http://www.post-gazette.com/pg/images/200902/20090223rooney_family_super_bowl.2_330.jpg

papillon
02-23-2009, 05:44 PM
I KNOW this is the fan in me talking but I cannot imagine in any form how you would take your shares in the Steelers and just sell them all off b/c you want to own slot machines.

It's not just slot machines they also own racing tracks in Florida and one other state plus the casinos. This is the perfect example of the business of football and the fan. The fans are passionate; the owners and players are businessmen and the two are at opposite ends of the "NFL football team" spectrum.

One has an emotional investment and the other has a financial investment. Mixing the two can be detrimental to the financial well being of a person, LLC or corporation. Never make business decisions with emotion.

Pappy

fordfixer
02-23-2009, 11:31 PM
Could someone please post the pic they are talking about i can't for some reason :oops:

http://www.post-gazette.com/pg/images/200902/20090223rooney_family_super_bowl.2_330.jpg


Thank you Ruthless :?

steelsun7
02-23-2009, 11:43 PM
Could someone please post the pic they are talking about i can't for some reason :oops:

http://www.post-gazette.com/pg/images/200902/20090223rooney_family_super_bowl.2_330.jpg


Thank you Ruthless :?

wow. they definitely aren't fans.they look like someone just died

Ghost
02-24-2009, 09:30 AM
I KNOW this is the fan in me talking but I cannot imagine in any form how you would take your shares in the Steelers and just sell them all off b/c you want to own slot machines.

It's not just slot machines they also own racing tracks in Florida and one other state plus the casinos. This is the perfect example of the business of football and the fan. The fans are passionate; the owners and players are businessmen and the two are at opposite ends of the "NFL football team" spectrum.

One has an emotional investment and the other has a financial investment. Mixing the two can be detrimental to the financial well being of a person, LLC or corporation. Never make business decisions with emotion.

Pappy

Which is why I started my post with - I KNOW this is the fan in me talking

aggiebones
02-24-2009, 11:47 AM
I gotta say, 70 yr old men don't run around like school kids when they win football games. They probably were yelling and swearing during the game and most likely were freaking exhausted after the game. Knowing this was their last game tied to the team, they were probably nervous to win and proud when they did. After SB 40, I wasn't smiling, I was passing out on the couch from mental exhaustion after the 30yr wait. I had 1 beer that day from what I remember.
The only thing missing was Dan. Would have liked to have had him in the picture. BTW, anyone ever see him really smile? Not much. He's gracious and moves on. I don't think the Rooneys are really smilers.
Glad they kept things together with the Rooney family and I think highly of them for getting this down in this manner. BTW, horse racing is OK and still own the team. Its the slots at the tracks that did most of them in.

feltdizz
02-24-2009, 12:51 PM
Could someone please post the pic they are talking about i can't for some reason :oops:

http://www.post-gazette.com/pg/images/200902/20090223rooney_family_super_bowl.2_330.jpg


Thank you Ruthless :?

wow. they definitely aren't fans.they look like someone just died

someone/something did die..

RuthlessBurgher
02-24-2009, 01:34 PM
The only thing missing was Dan. Would have liked to have had him in the picture. BTW, anyone ever see him really smile? Not much. He's gracious and moves on. I don't think the Rooneys are really smilers.

At least he is capable of smiling, unlike Jerry Jones, whose numerous plastic surgeries make any display of facial emotion a physical impossibility.

http://images.tsn.ca/images/stories/20080710/rooney-second_61552.jpg http://www.chicagotribune.com/media/photo/2007-12/34439099.jpg

feelthesteel
02-24-2009, 09:15 PM
I heard a cool Art Rooney Sr story
one time some rookie player was in the lobby
of the steelers old place i dont remeber where
but Art came by and emptied the ashtray
the player goes you work here Art says
once in a while keep the place clean. Art had a great sense of humor
Hail to the Chief.

fordfixer
02-25-2009, 12:15 AM
The only thing missing was Dan. Would have liked to have had him in the picture. BTW, anyone ever see him really smile? Not much. He's gracious and moves on. I don't think the Rooneys are really smilers.

At least he is capable of smiling, unlike Jerry Jones, whose numerous plastic surgeries make any display of facial emotion a physical impossibility.

http://images.tsn.ca/images/stories/20080710/rooney-second_61552.jpg http://www.chicagotribune.com/media/photo/2007-12/34439099.jpg
Jerry has that deer caught in the headlights look :shock: :lol:

papillon
02-25-2009, 09:51 AM
I heard a cool Art Rooney Sr story
one time some rookie player was in the lobby
of the steelers old place i dont remeber where
but Art came by and emptied the ashtray
the player goes you work here Art says
once in a while keep the place clean. Art had a great sense of humor
Hail to the Chief.

For another Art Rooney, Sr. story see my sig.

Pappy