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Steelers owners racing clock

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the five Rooney brothers who own the bulk of the Steelers franchise are trying to beat the clock to settle their ownership issues over the next few weeks. Four Rooney brothers are working on details of an agreement to sell their shares to brother Dan Rooney and his son, Art II, and to get NFL approval by the end of the year. In order to do so, they need to present an agreement to the NFL in time for its finance committee to consider and then send it along to the league owners meeting scheduled Dec. 17 in Dallas. The Rooneys thought they were close to a deal among themselves over the past two weeks, but it stalled recently as lawyers and family members haggle over specifics.

Pittsburgh Post-Gazette

Dan Rooney, Jeff Haynes/Getty Images Dan Rooney, Jeff Haynes/Getty Images
November 11, 2008  07:44 AM ET

I have no doubt they'll get this deal done. Haggle, schmaggle.

November 11, 2008  08:41 AM ET

It sounds like they're doing this to get out of paying the taxes under the President-Elect's tax plan. This is like the fourth story I've heard of owners trying to sell by the end of the year. I've never heard of rich people TRYING to go broke. It's almost amusing to me.

November 11, 2008  08:47 AM ET

It will be at a least a year before the new presidents plan could be put into place, that's if it even passes. Do people not know how our government works?

November 11, 2008  09:10 AM ET
QUOTE(#2):

It sounds like they're doing this to get out of paying the taxes under the President-Elect's tax plan. This is like the fourth story I've heard of owners trying to sell by the end of the year. I've never heard of rich people TRYING to go broke. It's almost amusing to me.

Well the rich don't want to be left out and want to be broke with the rest of America after the new Democratic waves of taxes are levied.

November 11, 2008  09:11 AM ET
QUOTE(#3):

It will be at a least a year before the new presidents plan could be put into place, that's if it even passes. Do people not know how our government works?

No... that's why they blame the President for the economic problems when it is congress that handles that.

You would also be amazed at the number of people who think they were actually voting for the president. Which is why I laugh everytime I hear someone tell me that Gore won the vote in 2000.

November 11, 2008  09:24 AM ET
QUOTE(#3):

It will be at a least a year before the new presidents plan could be put into place, that's if it even passes. Do people not know how our government works?

With the Senate and House dominated by the same party as the President Elect, it could take a lot less time than you think. Even if it takes nearly a year, it will certainly be made effective for the 2009 tax year. Do you think these guys got their billions by not understanding how the government works?

November 11, 2008  10:37 AM ET
QUOTE(#2):

It sounds like they're doing this to get out of paying the taxes under the President-Elect's tax plan. This is like the fourth story I've heard of owners trying to sell by the end of the year. I've never heard of rich people TRYING to go broke. It's almost amusing to me.

Actually this has been in the works for a while, since NFL mandated that they either sell the team, or get out of their various racetrack businesses. Also, it's been obvious for a while that the lineage of Steelers ownership is going through Dan's branch of the family. So it's a no brainer. The reason it's taken so long is because of how each group is valuing the team. Dan values it at $600-700M range...while the other brothers value it at closer to $1B (this is what Forbes values the team at around).

So Sliq...your post here is not based on facts; but don't let that stop you. Facts have never stopped my fellow Republicans so why should you stop now.

November 11, 2008  11:56 AM ET

American pays some of the lowest taxes of developed nations. I'd rather pay taxes and have a government that *works*

November 11, 2008  12:23 PM ET

This is terrible, I hope all this works out for these folks, it is such a pity to have these dreadful problems.... I wish there was a sort of fund or charity organization that maybe I could help somehow.... I think I am going to go drink some chamomile tea, that should help me feel better for them.

November 11, 2008  01:22 PM ET
QUOTE(#2):

It sounds like they're doing this to get out of paying the taxes under the President-Elect's tax plan. This is like the fourth story I've heard of owners trying to sell by the end of the year. I've never heard of rich people TRYING to go broke. It's almost amusing to me.

It is because they do not want more taken out than already will be. The more you make the more they take. With the new taxes to be put into place it will be even more.

November 11, 2008  02:09 PM ET

I'm just happy to see it staying in the "family" so to speak. But then I thought that Heinz should have bought the naming rights and named it "Rooney Field" and promoted that they did it for Pittsburgh pride. Would have got just as much PR from the move, but looked better for not taking the name themselves.

November 11, 2008  05:58 PM ET

Good for the Steelers and the NFL.

November 11, 2008  06:54 PM ET

I hate to see the Rooneys think their dalliances in racing are bigger than the Steelers. They've had a terrific relationship with the team. Seems a shame to break it.

As far as taxes, none of y'all posting here will see a tax increase. Cracks me up to think you make over $250,000. Absolutely hilarious. Rooneys, yes. You? No.

November 11, 2008  07:02 PM ET
QUOTE(#3):

It will be at a least a year before the new presidents plan could be put into place, that's if it even passes. Do people not know how our government works?

Why do I smell a republican, you may have forgotten the house and senate are no longer contrled by " the good ole boy" mentality...Obama is gonna tax the living crap outta Texas...Reminds me of a joke I read on a mens room wall years ago " Here I sit cheeks afexing just gave birth to another Texan"

November 11, 2008  08:55 PM ET
QUOTE(#4):

Well the rich don't want to be left out and want to be broke with the rest of America after the new Democratic waves of taxes are levied.

Yes, that is undoubtedly true because under the previous Democrat President the taxes must have at least doubled or tripled right?

November 11, 2008  10:33 PM ET

Actually the last article quoted the President elect as saying taxes would go up on those making $125,000 and over, not $250,000. He also stated that he would allow the Bush tax cuts to expire which will affect many people earning less than $125,000.

Politics aside, I'm glad the steelers are staying with the Rooneys and not going to some corporation or partnership.

November 11, 2008  11:01 PM ET

at least they are staying in the family. Rich people don't like paying taxes either.

November 11, 2008  11:32 PM ET

the rooneys dont have a relationship with the steelers, they are the steelers. the fact that they would have to do so much junk to avoid huge estate taxes should make everyone sick. but no. that would be the old america. this america wants everyone to make the same paltry amount of money. this country hates the successful, wants a piece of their pie. this country has its hands out. wants the rooneys to grow old and pass away and leave their wealth to the public kitty. just pathetic.

November 12, 2008  07:54 AM ET

They're acting though the IRS has these tax increases to take effect @ 12:01 est, Jan. 1st
2009..It ain't gonna happen ..Chill out ..

 
November 12, 2008  08:42 AM ET

Ok everyone, this is a sports forum not a political forum. Lets just hope the Rooneys get this done and the Steelers stay in the Rooney family.

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