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Thread: Want a Piece of the Steelers?

  1. #1
    Legend

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    Want a Piece of the Steelers?

    Could put a dent in the bank account but:

    Steelers to add outside investors to purchase David Tepper’s shares
    Joe Rutter
    JOE RUTTER | Saturday, July 27, 2019 2:44 p.m.
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    David Tepper no longer is a minority shareholder in the Pittsburgh Steelers ownership group, but his stake in the franchise has yet to be transitioned to another buyer.

    Steelers president Art Rooney II, who heads the team’s ownership group, told the Tribune-Review that Tepper’s estimated 5% ownership stake remains in limbo, likely will be purchased by an outside investor and will not be redistributed among the current 18 shareholders.

    “We’re going to wind up with a couple new shareholders,” Rooney said Saturday.

    Forbes recently calculated the Steelers’ valuation at $2.59 billion. That would make a 5% stake worth $129.5 million.

    Tepper, a Pittsburgh native who made his fortune as a hedge fund manager, had to sell his shares when he purchased the Carolina Panthers for $2.2 billion in 2018. The Charlotte Observer reported Tepper liquidated his Steelers shares in May for an approximate $122 million.

    “We’re still in the process of finalizing all of that,” Rooney II said about Tepper’s former shares. “Probably in the next few months we’ll get everything cleaned up on that end.”

    The Steelers restructured their ownership group in 2009 to comply with NFL rules. The group consists of 17 minority owners, including four other members of the Rooney family. The most noteworthy non-Rooney ownership members are former Steelers wide receiver John Stallworth and entertainment executive Thomas Tull.


    https://triblive.com/sports/steelers...tepper-shares/

  2. #2
    Legend

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    I would have to max out my Master card so I better pass this time.

    Molon labe

    People sleep peaceably in their beds at night only because rough men stand ready to do violence on their behalf. George Orwell



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  3. #3
    Pro Bowler

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    I'll have to wait until after payday.

  4. #4
    Legend

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    I want to but I wont have access to my trust fund until 2024.
    From the 2010-2018 season, (An 8 year period that the majority of Cowher's players & coaches had left) Mike Tomlin has only won 3 playoff games. And two of those wins were against back up Quarterbacks. Our history has been defined by what we do in the postseason; not the regular season.

    FIRE MIKE TOMLIN

  5. #5
    Hall of Famer

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    Guys, if we pool our funds then maybe.....

  6. #6
    Hall of Famer

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    129 million and you won't have the authority to purchase a box of paperclips.

    pass.
    2014 MNF EXEC CHAMPION!!!

  7. #7
    Hall of Famer

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    Quote Originally Posted by Starlifter View Post
    129 million and you won't have the authority to purchase a box of paperclips.

    pass.
    Right,

    We might be better off ponying up $10M a year collectively to rename Heinz "Planet Steelers Stadium"

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