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Thread: Steelers' worth rises above billion dollars, Forbes says

  1. #1
    Legend fordfixer's Avatar
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    Steelers' worth rises above billion dollars, Forbes says

    Steelers' worth rises above billion dollars, Forbes says
    By Scott Brown and Joe Starkey
    TRIBUNE-REVIEW
    Thursday, September 11, 2008

    http://www.pittsburghlive.com/x/pittsbu ... 87596.html

    The Steelers are a billion-dollar business.

    In its annual study of the value of the NFL's 32 franchises, Forbes on Wednesday pegged the Steelers' worth at $1.01 billion, 18th highest in the league. A year ago, the team's value was $928 million.

    Four of the Rooney brothers, each of whom owns a 16 percent share of the team, are looking to sell. A fifth brother, Chairman Dan Rooney, is trying to buy enough shares to keep the team in the family.

    The franchise was founded by their father, Art Rooney Sr.

    Dan Rooney offered his four brothers -- Art Jr., Tim, Pat and John -- $700 million for their shares.

    The four brothers had the franchise appraised last year by Goldman Sachs & Co. of New York, which estimated the team was worth between $800 million and $1.2 billion.

    Team officials and representatives of Goldman Sachs declined to comment on the Forbes study.

    The value of the franchise has skyrocketed in the past decade. Public records show that the Steelers were valued at $173 million in 1997. In 2003 -- two years after Heinz Field opened, the franchise's value increased to $608 million.

    With a value of $1.6 billion, the Dallas Cowboys are the No. 1 franchise in the NFL, according to Forbes. Second on the list is the Washington Redskins at $1.5 billion, followed by the New England Patriots at $1.3 billion.

    The study pegs the Steelers' 2008 revenues at $216 million and their operating income at $14.4 million. The value of the franchise rose 9 percent in the past year.

    Scott Brown can be reached at sbrown@tribweb.com. Joe Starkey can be reached at jstarkey@tribweb.com or 412-320-7810.

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  2. #2

    Re: Steelers' worth rises above billion dollars, Forbes says

    So, this is right in the middle of the Goldman number. It also makes the offer to his brothers look pretty reasonable. Going by the Forbes valuation (which is likely less comprehensive than what Goldman did), the shares of the other brothers are worth $640 million. So, an offer of $700 seems more than reasonable.

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    Re: Steelers' worth rises above billion dollars, Forbes says

    DAMN!!!

    Just this week I got to the $928 million mark the team was worth last year. I've been working overtime, conducting bake sales, car washes, some nude modeling , and anything else I could do to raise some money to purchase the team myself. I wanted to surprise you guys and throw a huge party at Heinz Field when I took over. And now I find out I'm $82 million short. Man, this blows

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    Re: Steelers' worth rises above billion dollars, Forbes says

    Quote Originally Posted by rpmpit
    DAMN!!!

    Just this week I got to the $928 million mark the team was worth last year. I've been working overtime, conducting bake sales, car washes, some nude modeling , and anything else I could do to raise some money to purchase the team myself. I wanted to surprise you guys and throw a huge party at Heinz Field when I took over. And now I find out I'm $82 million short. Man, this blows
    I have an extra $82 million in my back pocket. I was going to just spend it all on ringtones and bubble gum, but I suppose that I could invest it instead. I could be the Jack McGinley to your Art Rooney.

  5. #5
    BigBen2112
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    Re: Steelers' worth rises above billion dollars, Forbes says

    Quote Originally Posted by RuthlessBurgher
    Quote Originally Posted by rpmpit
    DAMN!!!

    Just this week I got to the $928 million mark the team was worth last year. I've been working overtime, conducting bake sales, car washes, some nude modeling , and anything else I could do to raise some money to purchase the team myself. I wanted to surprise you guys and throw a huge party at Heinz Field when I took over. And now I find out I'm $82 million short. Man, this blows
    I have an extra $82 million in my back pocket. I was going to just spend it all on ringtones and bubble gum, but I suppose that I could invest it instead. I could be the Jack McGinley to your Art Rooney.
    bubble gum and ringtones...

  6. #6
    Legend RuthlessBurgher's Avatar
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    Re: Steelers' worth rises above billion dollars, Forbes says

    Quote Originally Posted by RuthlessBurgher
    Quote Originally Posted by rpmpit
    DAMN!!!

    Just this week I got to the $928 million mark the team was worth last year. I've been working overtime, conducting bake sales, car washes, some nude modeling , and anything else I could do to raise some money to purchase the team myself. I wanted to surprise you guys and throw a huge party at Heinz Field when I took over. And now I find out I'm $82 million short. Man, this blows
    I have an extra $82 million in my back pocket. I was going to just spend it all on ringtones and bubble gum, but I suppose that I could invest it instead. I could be the Jack McGinley to your Art Rooney.
    If anyone else wants to donate to the effort to buy the team, just keep hitting this smiley a bunch of times. Remember, each one is worth 20 cents, not 2 cents, so we can get there faster than we thought.


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    Re: Steelers' worth rises above billion dollars, Forbes says

    Quote Originally Posted by rpmpit
    DAMN!!!

    Just this week I got to the $928 million mark the team was worth last year. I've been working overtime, conducting bake sales, car washes, some nude modeling , and anything else I could do to raise some money to purchase the team myself. I wanted to surprise you guys and throw a huge party at Heinz Field when I took over. And now I find out I'm $82 million short. Man, this blows
    maybe if you looked like this you would have earned enough for the nude modeling haha. if you want i'll come up with the extra 82 mill and have part ownership. im only 82 million short

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    Re: Steelers' worth rises above billion dollars, Forbes says

    Quote Originally Posted by RuthlessBurgher
    Quote Originally Posted by rpmpit
    DAMN!!!

    Just this week I got to the $928 million mark the team was worth last year. I've been working overtime, conducting bake sales, car washes, some nude modeling , and anything else I could do to raise some money to purchase the team myself. I wanted to surprise you guys and throw a huge party at Heinz Field when I took over. And now I find out I'm $82 million short. Man, this blows
    I have an extra $82 million in my back pocket. I was going to just spend it all on ringtones and bubble gum, but I suppose that I could invest it instead. I could be the Jack McGinley to your Art Rooney.
    That's awesome!!! Meet me at Dan Rooney's office at 4:00 this afternoon with the money. I hope he'll have a few people available to help him count it out. Most of my $928 million is in singles, fives and change

  9. #9
    Legend RuthlessBurgher's Avatar
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    Re: Steelers' worth rises above billion dollars, Forbes says

    Quote Originally Posted by rpmpit
    Quote Originally Posted by RuthlessBurgher
    Quote Originally Posted by rpmpit
    DAMN!!!

    Just this week I got to the $928 million mark the team was worth last year. I've been working overtime, conducting bake sales, car washes, some nude modeling , and anything else I could do to raise some money to purchase the team myself. I wanted to surprise you guys and throw a huge party at Heinz Field when I took over. And now I find out I'm $82 million short. Man, this blows
    I have an extra $82 million in my back pocket. I was going to just spend it all on ringtones and bubble gum, but I suppose that I could invest it instead. I could be the Jack McGinley to your Art Rooney.
    That's awesome!!! Meet me at Dan Rooney's office at 4:00 this afternoon with the money. I hope he'll have a few people available to help him count it out. Most of my $928 million is in singles, fives and change
    Mine should be easier. I just have 82 of these:


  10. #10
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    Re: Steelers' worth rises above billion dollars, Forbes says

    Quote Originally Posted by RuthlessBurgher
    Quote Originally Posted by rpmpit
    Quote Originally Posted by RuthlessBurgher
    Quote Originally Posted by rpmpit
    DAMN!!!

    Just this week I got to the $928 million mark the team was worth last year. I've been working overtime, conducting bake sales, car washes, some nude modeling , and anything else I could do to raise some money to purchase the team myself. I wanted to surprise you guys and throw a huge party at Heinz Field when I took over. And now I find out I'm $82 million short. Man, this blows
    I have an extra $82 million in my back pocket. I was going to just spend it all on ringtones and bubble gum, but I suppose that I could invest it instead. I could be the Jack McGinley to your Art Rooney.
    That's awesome!!! Meet me at Dan Rooney's office at 4:00 this afternoon with the money. I hope he'll have a few people available to help him count it out. Most of my $928 million is in singles, fives and change
    Mine should be easier. I just have 82 of these:

    Sweet!!

    Yeah, I have to rent two or three U-Hauls to get the money out to Pittsburgh

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