Steelers

Rooney Seeks To Keep Ownership In The Family

RELATED LINK:  Read The Wall Street Journal Report

PITTSBURGH (KDKA) ― The Wall Street Journal is reporting the storied Pittsburgh Steelers Football franchise has been secretly shopped to potential buyers amid continuing divisions among the five sons of the team's founder, Art Rooney, Sr.

This is possibly related to talks the Rooney family has been having with the NFL to restructure the family's ownership of the team.

Steelers Chairman Dan Rooney and some of his brothers also hold ownership stakes in racetracks - but that is against the NFL's policy on gambling.

Dan Rooney reportedly wants to consolidate his control by acquiring most of his brothers' shares in the Steelers over 10 years.

The Wall Street Journal reports Dan and his son, Steelers President Art Rooney II are arranging a financing plan to buy Dan's brothers' shares in order to continue substantial ownership of the franchise by the Rooneys.

But some of the the brothers and younger third-generation family members are asking whether a better deal can be put together if there is to be an ownership change.

Dan Rooney says he wants to stay in the football business.

"I have spent my entire life devoted to the Pittsburgh Steelers and the National Football League. 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," he said in a statement released by the Steelers organization.

"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," Steelers President Art Rooney II said in the statement.

Stay with KDKA for the latest developments.

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