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Nov 15, 2008 8:04 pm US/Eastern
Patrick Rooney Speaks Out On Steelers Sale
PITTSBURGH (KDKA) ―
Another Rooney brother is now weighing in on what appears to be an impending deal to sell a majority share of the Pittsburgh Steelers to Dan Rooney.
Patrick J. Rooney, who operates racetracks and casinos, is one of five Rooney brothers who are being compelled by the NFL to consolidate the team ownership.
KDKA spoke with Rooney at his home in West Palm Beach, Florida, today.
His ownership of a racetrack/casino is one of the reasons the NFL wants him to sell his 16 percent interest in the Steelers.
According to Rooney, there are still many details to work out, but his hope is that four of the brothers will sell their shares of the team to Dan Rooney by the end of the year.
For the Rooney brothers, selling their multi-million dollar interest in the Steelers is a family affair. Today, Patrick all but conceded that a deal is close to sell a controlling interest to team Chairman Dan Rooney.
"I hope my brother and my nephew … I know they'll do a good job, and keep the tradition going," Patrick told KDKA.
The NFL wants him to get out of the football business because his ownership of a casino violates league rules. Also, the Steelers are violating another league rule because no one owns at least 30 percent of the team.
But that could soon resolve itself if four of the brothers each sell their 16 percent share to Dan Rooney. And Patrick Rooney confirmed what appears obvious to most of us, eventually, Rooney's son, Steelers President Art Rooney !!, will be running the whole show.
"I think Art II, not that he's not big now, he's the President of the team, but I think his presence will just keep getting bigger and bigger," said Patrick. "That's the way it ought to be."
While the NFL is forcing the Rooney's to make a deal, they have one other motivation to get the sale done before the end of the year.
They're concerned that when President-elect Barack Obama takes office in 2009, capital gains taxes likely to rise.
Stay with KDKA for the latest details.
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