Steelers add another investor
The Steelers announced Monday that they're adding another minority owner of the fabled franchise, but they won't say who he or she is.
The closing on the deal is slated for today, but Steelers' officials declined to name how much of a stake the new owner is acquiring and from whom the purchase was made.
"We are preparing to close on a small transfer, including the addition of one new partner," said Steelers spokesman Burt Lauten in a prepared statement. "The new partner was approved at the League meetings last week in Dallas and is a follow-up to our large transaction in September, as we previously announced."
In a written statement, NFL spokesman Greg Aiello confirmed that the new owner had been vetted by the NFL and fellow owners and that "(e)verthing has been approved."
Art Rooney II, the grandson of famed Steelers' founder Art Rooney Sr, will retain control of the team as the chairman and president of the franchise. He and his father, U.S. Ambassador to Ireland and Pro Football Hall of Famer Dan Rooney, hold 30 percent of the shares.
In September, Dan Rooney's brothers Tim and Pat Rooney divested all of their holdings in the team. Brothers John and Art Rooney Jr also continued to hold small but significant stakes in the franchise along with members of the McGinley clan, their cousins.
Pat Rooney said that his seven children didn't sell any of their 2 percent stake in the franchise to the incoming investor.
"I've known that this was going to happen," Rooney said. "I think that it's the final closing which ties up loose ends from the summer."
The new investor joins a crowded bench that includes Tennessee truck stop titan James Haslam III, Hollywood producer Thomas Tull, Chicago investor Bruce Rauner, Hall of Fame wideout John Stallworth, hedge fund giant David Tepper, retired West Virginia coal exec Ben Statler, five members of the Paul family in Los Angeles and Pittsburgh, and several more members of Jefferson County's Varischetti family.
Show commenting policy
TribLive commenting policy
You are solely responsible for your comments and by using TribLive.com you agree to our Terms of Service.
We moderate comments. Our goal is to provide substantive commentary for a general readership. By screening submissions, we provide a space where readers can share intelligent and informed commentary that enhances the quality of our news and information.
While most comments will be posted if they are on-topic and not abusive, moderating decisions are subjective. We will make them as carefully and consistently as we can. Because of the volume of reader comments, we cannot review individual moderation decisions with readers.
We value thoughtful comments representing a range of views that make their point quickly and politely. We make an effort to protect discussions from repeated comments either by the same reader or different readers.
We follow the same standards for taste as the daily newspaper. A few things we won't tolerate: personal attacks, obscenity, vulgarity, profanity (including expletives and letters followed by dashes), commercial promotion, impersonations, incoherence, proselytizing and SHOUTING. Don't include URLs to Web sites.
We do not edit comments. They are either approved or deleted. We reserve the right to edit a comment that is quoted or excerpted in an article. In this case, we may fix spelling and punctuation.
We welcome strong opinions and criticism of our work, but we don't want comments to become bogged down with discussions of our policies and we will moderate accordingly.
We appreciate it when readers and people quoted in articles or blog posts point out errors of fact or emphasis and will investigate all assertions. But these suggestions should be sent via e-mail. To avoid distracting other readers, we won't publish comments that suggest a correction. Instead, corrections will be made in a blog post or in an article.
- Steelers hoping that youth movement breathes life into team
- Steelers notebook: Team hasn’t called on Keisel, Harrison yet
- Inside the ropes: Shazier shows off speed
- GM Colbert expects Roethlisberger to end career with Steelers
- Steelers linebacker Spence confident he can avoid injury setbacks
- Steelers hope group of low-budget cornerbacks can deliver
- Roethlisberger ‘prays’ he can stay with Steelers when deal expires
- Steelers WR Wheaton wants to produce after injury-plagued rookie year
- Inside the ropes: Roethlisberger may have his big receiver
- Steelers notebook: Ben believes rookie WR Bryant can contribute
- Inside the ropes: Speedy rookie Archer dazzles at 1st training camp practice