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Steelers shareholders nearing decision

Sept. 17, 2008 at 1:36 PM   |   Comments

PITTSBURGH, Sept. 17 (UPI) -- Four brothers who own shares in the Pittsburgh Steelers may soon decide who will buy their stakes in the NFL team, family members say.

With billionaire Stanley Druckenmiller offering to purchase the shares owned by Art Jr., Tim, Pat and John Rooney, the four men must decide whether to sell their shares to the businessman or their brother, Dan, and his son Art Rooney II, the Pittsburgh Post-Gazette said Wednesday.

One unidentified member of the Rooney family said while no deal has been "consummated," the four shareholders may finally make a decision after months of deliberation.

"Now we have all the information,'' the anonymous family member said. "I'm not saying anything's consummated. Nothing's been consummated."

A deal is also expected since Druckenmiller informed the brothers he had set Friday as a deadline for his offer, the Post-Gazette said.

Together, the four Rooney brothers considering the sale own 64 percent of the storied football franchise. Their brother, Dan, owns 16 percent of the team's shares, while 20 percent is owned by the McGinley family of Pittsburgh.

© 2008 United Press International, Inc. All Rights Reserved. Any reproduction, republication, redistribution and/or modification of any UPI content is expressly prohibited without UPI's prior written consent.
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