Nov 11, 2008 8:44 pm US/Eastern
Rooneys Could Finalize Team Sale Soon
PITTSBURGH (KDKA) ―
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Art Rooney Jr. (File)
KDKA
The Rooney brothers are in a rush to finalize the sale of the Pittsburgh Steelers and it is the presidential election that is giving their efforts new urgency.
A deal keeping Dan Rooney in control of the team reportedly could be wrapped up by the end of the year.
All sides are racing to get an agreement in place before President-elect Barack Obama's inauguration.
Like the fans who pack Heinz Field, Art Rooney, Jr., says he bleeds black and gold and he's embarrassed to even talk about the multimillion dollar ownership dealings in this economy.
"Here we are the Rooney boys, have a loaf of bread under each arm, and guys don't know if they are going to stay in their house, you know the fans they don't know if they are going to be able to stay in their house, send their kids to college next year or make ends meet," he said.
But the election of Barack Obama has turned up the heat under the deal because of anticipated tax changes under the new administration.
"I think that what we're working on is something that everybody wants to see done by the end of the year. If it's not done I don't know what happens after that, but at this point that's what everybody's trying to work toward," Steelers President Art Rooney II said.
"Dan and Art were out here a couple of weeks ago and talked and … we were on our way and then somebody finds some little, what did that Ross Perot say - the devil's in the details? We've got the devils in the details."
And those details are in the hands of lawyers. What isn't disputed is the economy has taken all other buyers out of play, so the brothers are focused on a deal that keeps Dan Rooney as principal owner.
Art Jr.: "Dan would be."
Shumway: "And Art the second?"
Art Jr. : "Well that's up to him how he wants to put his son in there. The rest of us would be minority owners and he has a lot of other guys coming in and I'll tell you something about the other guys he has coming in - they'll never be the partners that the Rooney boys were and our cousins the McGinleys.
Art Jr. says whatever minority ownership the brothers end up with, they will be slowly phased out and he considers the NFL's approval of the deal a formality.
"If Dan Rooney is the guy that has the team they don't worry about it," he said. "If Mr. Druckenmiller you worry about it, or Joe Blow, or something like that but Dan he'll get it."
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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