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Thread: Rooneys to meet soon about Steelers' sale

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    Rooneys to meet soon about Steelers' sale

    Rooneys to meet soon about Steelers' sale Updated: August 5, 2008, 12:54 PM EST 19 LATROBE, Pa. (AP) - Pittsburgh Steelers chairman Dan Rooney and his four brothers will meet soon at the request of NFL commissioner Roger Goodell to help resolve the team's unsettled ownership situation.http://msn.foxsports.com/nfl/story/8414 ... lers'-sale

    A date for the meeting has not been announced.

    At least three Rooney brothers want to share their shares each owns 16 percent to avoid costly future inheritance taxes for their children and grandchildren. The NFL also wants one owner to control a majority stake, although Dan Rooney who has run the team since the early 1970s owns only 16 percent himself.

    Dan Rooney and son Art Rooney II, the team president, are attempting to buy enough shares to be the primary owners, but their two previous offers were for much less money than the Rooney brothers could sell for the open market. Those brothers apparently want to sell to Stanley Druckenmiller, a billionaire investor and Steelers fan who wants to buy into the team only if he has the majority stake.

    If Druckenmiller becomes the primary owner, the Steelers will not be owned by the Rooney family for the first time since founder Art Rooney Sr. briefly sold the team in 1941 before repurchasing it a few months later.

    Goodell asked for the meeting last weekend after being briefed on negotiations by former commissioner Paul Tagliabue, who is working as a consultant on the sale at Goodell's request.

    Several Rooney brothers have decided to sell partly because they own shares of racetracks that now offer casino gaming not permitted by the NFL. Brothers Tim and Pat Rooney, who are involved in the family's racing business, have resigned from the Steelers board of directors and brother Art Rooney Jr., a former Steelers scouting director, has sold off most of his race track shares. The other brother, John, is believed to want to sell his shares.

    The other 20 percent stake in the Steelers is owned by the family of the late Barney McGinley, who helped Art Rooney Sr. reacquire the Steelers in 1941.

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    Re: Rooneys to meet soon about Steelers' sale

    The other 20 percent stake in the Steelers is owned by the family of the late Barney McGinley, who helped Art Rooney Sr. reacquire the Steelers in 1941.
    ... And that's because he married Arts' sister.....

    Either way, I REALLY hope they find a way to keep it "in the family".

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    Re: Rooneys to meet soon about Steelers' sale

    Quote Originally Posted by NKySteeler
    The other 20 percent stake in the Steelers is owned by the family of the late Barney McGinley, who helped Art Rooney Sr. reacquire the Steelers in 1941.
    ... And that's because he married Arts' sister.....

    Either way, I REALLY hope they find a way to keep it "in the family".
    Amen

    Molon labe

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    Re: Rooneys to meet soon about Steelers' sale

    its very scary to think that somone else might own the majority of the steelers. hopefully they can work something out. god i hate change so much

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    Re: Rooneys to meet soon about Steelers' sale

    For me, it depends....

    If the rooney's must borrow a ton of money, this may lead to a tightening of the purse strings for scouting, coaches, and perhaps players. If this is the reality, I may be happier with a owner with deep pockets.
    Even if Bill Belichick was getting an atomic wedgie, his face would look exactly the same.

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    Re: Rooneys to meet soon about Steelers' sale

    Quote Originally Posted by steelblood
    For me, it depends....

    If the rooney's must borrow a ton of money, this may lead to a tightening of the purse strings for scouting, coaches, and perhaps players. If this is the reality, I may be happier with a owner with deep pockets.
    blood, from that aspect, I understand and agree with your point... But it's just such a shame to see all the history go away with the owner (if it happens)... It's been a great sense of pride for many, and I believe it affects how many players perceive thier own team, and is reflected in intensity at certain times.

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    Re: Rooneys to meet soon about Steelers' sale

    give me a break. the history of the steelers cannot be bought and sold.

    the players care about money. period.

    druckenmiller could be very good for this franchise.

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    Re: Rooneys to meet soon about Steelers' sale

    Quote Originally Posted by Eddie Spaghetti
    give me a break. the history of the steelers cannot be bought and sold.
    ... You're missing the point.

  10. #10

    Re: Rooneys to meet soon about Steelers' sale

    Quote Originally Posted by NKySteeler
    Quote Originally Posted by Eddie Spaghetti
    give me a break. the history of the steelers cannot be bought and sold.
    ... You're missing the point.
    not really.

    give me one instance when the intensity picked up because of an owner.

    change could be a good thing.

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