The Post-Gazette, the Tribune-Review as well as ESPN are reporting that the Steelers ownership structure is in transition.
The Rooney family has controlled the Steelers since Art Rooney Sr. bought the team in 1933. When Art passed away in 1988, ownership of the team passed to the five Rooney sons and the McGinley family.
In addition to the Steelers, the Rooney family has had holdings in real estate as well as the race tracks. As MVN website reports, many of the Rooney’s race tracks have now turned to slot machines, and this runs contrary to NFL ownership policy.
The current plan is for Dan and Art II to buy out their brothers, Art Jr., Pat, Tim, and John. All accounts concur that these negotiations have been on-going for two years now.
The NFL has reported that the Roger Goodell has appointed former commissioner Paul Tagliabue to represent the league’s interests in this matter. I
In a press release issued this afternoon, both Dan and Art II sought to reassure fans that the team would stay in the Rooney family, although other press reports indicate that the transition might not be smooth or seamless. (See, Steelers for Sale? Analysis)
For more news see "Steelers for Sale? Ownership Structure in “Transition” – Analysis."