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Billionaire talks of buying Steelers

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Billionaire hedge fund manager Stanley Druckenmiller acknowledged yesterday that he is interested in purchasing the Steelers and pledged that "any resolution involving me will guarantee the team remains in Pittsburgh." "I am more than aware how uniquely important the Steelers are to the city," he said in a short statement. The chairman of Duquesne Capital Management has talked to both sides of the Rooney family -- the four brothers who hired Wall Street investment bank Goldman, Sachs & Co. to evaluate offers for their shares, and the fifth brother, Dan, who wants to buy out his four brothers and become majority owner of the Steelers. At the same time, Dan and his son Art II are also trying to line up other investors to buy all, or even a portion, of the shares held by Art Jr., Tim, Pat and John. "My primary objective," Mr. Druckenmiller said, "is to do what is in the best interests of the Pittsburgh Steeler franchise, the fans, the city of Pittsburgh, the Rooney and McGinley families and the National Football League." The Rooneys control 80 percent and the McGinleys control the other 20 percent.

Pittsburgh Post-Gazette

Dan Rooney, Jeff Haynes/Getty Images Dan Rooney, Jeff Haynes/Getty Images
July 11, 2008  06:56 AM ET

much respect to the Rooney's and may they keep the team.

July 11, 2008  07:04 AM ET

vaughn9....classy comment, sir.

If I was a billionaire I would buy them too.

July 11, 2008  07:14 AM ET

so wrong for the brothers to screw their dad's memory like this and sell the team out from under dan.

July 11, 2008  07:34 AM ET

Dunno pw, seems to me their dad was the one who left them the shares so I'm unclear what it is you think they are doing to his memory. Don't forget, it's the NFL that started this situation. They were the ones who wanted some of the brothers out, so the shares were going to be up for sale.

Dan is allowed to buy them. He in fact made them an offer and the brothers thought he came in cheap with it.

If he in fact did lowball them who was trying to screw who?

July 11, 2008  08:16 AM ET

If Dan offered them each a dollar, they should have taken it. (I am exagerrating a bit here) They make plenty of money through their other business interests, otherwise they would sell them to continue to own the Steelers. Art Sr was the Steelers and Dan is the Steelers.

That said, Druckenmiller sounds okay to me and if he would sign a contract to keep the Steelers in Pgh forever, he's got my support.

July 11, 2008  08:23 AM ET

it will be a sad day for Pittsburgh & the NFL if the Rooneys sell the team.

July 11, 2008  08:49 AM ET

One thing is for sure, if the day does come that the Rooney's sell off the team, they can be certain that there are suitors that wouldn't screw with the team or its location. This guy seems legit.

It's sad that these 4 sons are only capable of viewing the team as dollar signs, while the fifth wants to keep it. The team not only represents the city of Pittsburgh, but steel and heavy industry workers nationwide, pushing into my hometowns market even of Buffalo due to our own former steel industry through Bethlehem Steel in Lackawanna. Identity of a team, and of a fanbase can never be replaced by money, location or anything else. It's one reason why soccer fans in Europe literally love their teams and would die for them... it's all about identity.

July 11, 2008  08:53 AM ET

It is a financial estate problem. The sons are all 70 or more. Each share is worth $160 mil. I have read. If Dan Rooney can get enough backers to buy one out he will. The big if. Druckenmiller tried to buy the team ten years ago. At least he has a history in Western Pa. and wants to own the team, not run it. In the perfect world Dan Rooney comes up with the money and it stays a Rooney operation. Same thing happened when the Maras had to sell 50% of the Giants to Tisch. Hopefully the Steelers can work out a similar deal.
The Steelers are one of the flagship franchises. I just hope Dan Rooney can get it done..Some things should just never change..

July 11, 2008  08:56 AM ET

it would be a sad day if they EVER moved out of Pittsburgh or sell the team out from the Rooneys. BAD brothers....Art Sr is turning over in his grave.

July 11, 2008  08:59 AM ET

i don't know my feelings on this yet. the rooneys are still going to have partial control (i think) just as long as no one tries moving them out of the burgh. if that happened, i think people would bring back the ol pitchfork and torch angry mob. i sure know i'd be part of it.

July 11, 2008  09:23 AM ET

The Steelers are not going anywhere. The press is just starting a firestorm to sell some pulp. The Steelers will replace the brothers Rooney, and life for the black and gold will go on.

The Steelers are as big as any franchise in the NFL, both in history and revenue creation, so the league will never allow them to leave Pittsburgh.

July 11, 2008  09:57 AM ET

it would be a sad day if they EVER moved out of Pittsburgh or sell the team out from the Rooneys. BAD brothers....Art Sr is turning over in his grave.

gameon | 07/11/08, 08:56 AM

Never, would that happen

July 11, 2008  11:55 AM ET

If the news is true (I know, I know....), Druckenmiller said he would not even think of moving the Steelers out of Pittsburgh.

But still, I'd like to see Dan get the team to himself.

Hey, how much is the PowerBall worth this week?! :-)

July 11, 2008  05:12 PM ET

Different guy.....same ole line! I have just wittnessed the rape of Seattle Sonics by a "Class Act" who had noting but the interest of the team and city at heart....then money became a factor. The rest of that story is history. With the NFL looking to place team/s in the LA area I will be suspicious of anyone trying to by OUR team.

The Rooney boys need to put their stuff in one sock and take care of business...STEELER BUSINESS.

Ole man Rooney needs to stick a size 11 up their keisters to get their attention.

July 11, 2008  06:00 PM ET

The other owners have got to vote on it before the league approves a new owner. The league will listen to the Rooneys because of what the family means to the league.

I don't understand why the brothers don't compromise and sell their shares over to the other siblings. Must be greed.

July 11, 2008  10:05 PM ET

The NFL needs the Rooney's in the league. The history and tradition associated with that team and the owners. I am a Cowboys fan but, understand the importance of having the Rooney's in the league. May they get the deal done and keep the team.

Comment has been removed
July 11, 2008  11:17 PM ET

The Rooney's will NEVER give up the Steelers. They will sort things out !!!

July 12, 2008  12:32 AM ET

I found $11.35 in coins between our couch and car. Anyone want to go in with us, buy the team and put this story to rest?

 
July 12, 2008  04:32 AM ET

I found $7.36 and two used bottle caps that say Budweiser. I'm in.

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