Jul 8, 2008 10:15 am US/Eastern
Rooney: Ownership Issues Won't Affect Team, Fans
PITTSBURGH (KDKA) ―
Amid reports that the Steelers have been "secretly shopped to potential buyers," Steelers President Art Rooney II is assuring fans "there is no reason to believe that the current internal discussions will have any impact on our fans or on our team."
The 75-year-old football team has been a family franchise handed down from father to sons; and Steelers Chairman Dan Rooney says he wants to keep it that way.
In addition to owning the Steelers, the Rooney family also has ownership ties to horse racing tracks.
The addition of slots to at least one of those tracks has put the family's ownership of the Steelers at odds with the NFL's gambling policy.
To keep the team, the family has to make some changes.
Under the plan, Dan Rooney would stay in control of the team, while his four brothers would move on and focus on the family's racetracks and other ventures.
The Wall Street Journal has been reporting that Dan and Art Rooney are looking for ways to get enough money to buy out the rest of the family.
Doing so, however, would be expensive. With five Super Bowl titles, the storied Steelers franchise is worth an estimated $929 million, according to Forbes Magazine.
While the Wall Street Journal says some of the Rooney brothers and their children may be interested in seeing what money they could get by selling their shares on the open market.
Nonetheless, sources close to the Rooneys tell KDKA that all the brothers want to handle the transition amicably and keep it in the family.
The Rooneys say the financing questions will not impact the fans or the future of the team here in Pittsburgh.
In a statement released Monday, Steelers Chairman Dan Rooney assured: "I will do everything possible to work out a solution to ensure my father's legacy of keeping the Steelers in the Rooney family and in Pittsburgh for at least another 75 years."
His son, added: "There is no reason to believe that the current internal discussions will have any impact on our fans or on our team this season or in the seasons to come."
Stay with KDKA for more on this developing story
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