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Dan Rooney Will Keep Steelers, That’s a Good Thing, Right?
by November 30, 1999 @ 12:00 am (Category : Uncategorized )

Nov 15th 2008 8:58PM by JJ Cooper (author feed)
Filed under: Steelers, AFC NorthIt appears that Stanley Druckenmiller and any other prospective Steelers owner didn’t have much of a chance. With everyone in the NFL wanting to see the Steelers stay in the Rooneys’ hands, Dan Rooney was given all the time he needed to work out a way to buy out his brothers. So we get the news today that the rest of the Rooneys have agreed to sell to Dan and his son Art II, now that they have set the team’s value at $800 million.

Overall this is an obviously good thing. Nearly as much as his legendary father Art Rooney, Dan has been a key to the Steelers’ success. While other teams react to the whims of their owner, Dan Rooney is always looking at the big picture, So generally, the Steelers contend for playoff spots and win more than they lose.

But there is a potential drawback. Dan and Art II, two rich men, but not billionaires like some other NFL owners, will have to come up with $512 million if they are to buy the other brothers out completely. It’s possible that the other four brothers will hold on to small portions of their shares, but whatever happens, the Rooneys, and any additional investors they bring in, have a pretty hefty bill ahead of them. And considering how difficult the credit markets are these days, if they have to take out a loan, it won’t be cheap.
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