Results 1 to 7 of 7

Thread: Want a Piece of the Steelers?

  1. #1

    User Info Menu

    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.
    TribLIVE's Daily and Weekly email newsletters deliver the news you want and information you need, right to your inbox.

    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.

  2. #2

    User Info Menu

    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

    American metal pimped by asiansteel
    Only two defining forces have ever offered to die for you 1. Jesus Christ, 2.The American G.I., One died for your soul, the other for your freedom.

  3. #3
    Hall of Famer

    User Info Menu

    I'll have to wait until after payday.

  4. #4

    User Info Menu

    I want to but I wont have access to my trust fund until 2024.
    From the 2010-2019 season, (A 9 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.
    Dolphin fans in the 90’s who wanted to hold on to Don Shula for what he did in the 70’s...

    Are the same as Steeler fans (of 2020 ) holding on to Tomlin for what he did in 2008.


  5. #5

    User Info Menu

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

  6. #6
    Hall of Famer

    User Info Menu

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


  7. #7

    User Info Menu

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


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


Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts