Steelers

Sources: Druckenmiller Gives Deadline

PITTSBURGH (KDKA) ― There's some new information coming to light in the ownership saga involving the Pittsburgh Steelers.

Sources say billionaire Stanley Druckenmiller, who has expressed interest in buying the team, has now issued an ultimatum which could lead to some action this week.

This ownership issue is certainly a complex one given the demands of the NFL and the amount of extended members of the Rooney family

KDKA-TV Sports has learned that, for the first time ever in the negotiations, Druckenmiller has issued a deadline to the family.

It is this coming Friday, September 19th.

His offer of $800 million for the four brothers of Dan Rooney remains on the table as Dan and his son, Art II, try to equal if not top it.

What is not known is if this is a hard deadline by Druckenmiller or a calculated bluff with the intent of getting the deal completed.

Just last week, Forbes Magazine pegged the value of the Steelers franchise at $1.01 billion, which is 18th highest in the NFL.

One year ago, the team's value was $928 million.

Ten years ago, it was just over $173 million, which displays what a good investment it is and how the franchise value has skyrocketed.

That is precisely why Druckenmiller is interested.

Dan Rooney's four brothers went to Goldman Sachs for a franchise appraisal just over one year ago.

They were told it falls somewhere between $800 million and $1.2 billion.

Each of the five Rooney brothers owns 16 percent.

Given the demands of NFL rules to have at least one 30 percent owner, the battle lines were drawn.

Druckenmiller, we are told, has offered $800 million in cash to the four brothers.

Dan Rooney has made three offers and is prepared to make a fourth.

Druckenmiller has not yet made a second offer and could be waiting for Dan's latest before he counters.

The other scenario that could be playing out is a complete withdrawal by the four brothers given the downturn in the stock market recently.

It is also conceivable that the NFL could accept no change in ownership as long as the family has a plan to remedy the situation.

Stay with KDKA for the latest details.

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