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Old 05-24-2012, 08:39 PM   #1
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Default So who's going to replace the Rooneys when they pass?

Does Art Rooney II have any sons in mind to takeover? I couldn't imagine the Steelers without the Rooneys owning them.
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Old 05-24-2012, 08:45 PM   #2
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Default Re: So who's going to replace the Rooneys when they pass?

the rooneye currently only own them in name only. dictator goodell forced the majority of rooney' family ownership stake be sold a few years ago. right now i think dan rooney and his son own more debt then their actual 16-20% stake apiece is worth.
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Old 05-24-2012, 09:55 PM   #3
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Default Re: So who's going to replace the Rooneys when they pass?

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the rooneye currently only own them in name only. dictator goodell forced the majority of rooney' family ownership stake be sold a few years ago. right now i think dan rooney and his son own more debt then their actual 16-20% stake apiece is worth.
WTF? Well evidently I don't know anything about ownership and how it works. Who owns the rest of the team if the Rooney's only own 20% or less?
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Old 05-24-2012, 10:14 PM   #4
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Default Re: So who's going to replace the Rooneys when they pass?

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the rooneye currently only own them in name only. dictator goodell forced the majority of rooney' family ownership stake be sold a few years ago. right now i think dan rooney and his son own more debt then their actual 16-20% stake apiece is worth.

Wait don't they collectively own 30%? I thought they got more from the other family members.
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Old 05-24-2012, 10:52 PM   #5
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Default Re: So who's going to replace the Rooneys when they pass?

art and dan each owned about 17-20% apiece. from what i remember they are now the majority owners by owning a collective 33%. the rooneys collectively owned 80% all these years (20% has always been owned by the wife of the cheifs family i believe.

for anyone who wants to research deeper than my memory serves right now, google stanley drukenmiller offers to buy steelers, and it will explain in more detail.

anyways when the rest of the rooneys were forced to sell because of their racetrack and casino ventures several years back, art II and dan couldnt afford to buy them out and had to put together an ownership group, essentially selling off "stocks" in the team.

on the flipside is the jones, kraft, snyder and others who own their teams outright.
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Old 05-24-2012, 10:56 PM   #6
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Default Re: So who's going to replace the Rooneys when they pass?

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WTF? Well evidently I don't know anything about ownership and how it works. Who owns the rest of the team if the Rooney's only own 20% or less?
part of the ownership group consists of a hollywood movie mogul (i think the dude who brought batman returns to the PGH) and the owners of a east coast truck stop chain. john stallworth is even a minority owner.
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Old 05-25-2012, 12:13 AM   #7
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Default Re: So who's going to replace the Rooneys when they pass?

Alright so with all that being said, and you are correct from my quick wikipedia search, then whose going to take over when Dan & Art pass away then, surely that ownership will trickle down to the rest of the family?
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Old 05-25-2012, 01:14 AM   #8
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Default Re: So who's going to replace the Rooneys when they pass?

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Alright so with all that being said, and you are correct from my quick wikipedia search, then whose going to take over when Dan & Art pass away then, surely that ownership will trickle down to the rest of the family?
well looking at the cheif and dan, im gonna go out on a limb and say that art II still got few years to go.

however lets say the chif divided his 80% stake amongst 5(?) kids. lets say dan will divide his as well (nobody is really in position to speculate how his will is written), and ART II divides his amongst 5 kids....

it all gets watered down. keep in mind, not only do all the siblings inherit the split stakes, they also inherit the debt it cost to keep the team under the family name.

i believe art II is the end of the line. after him, sports franchises may completely go the corporate route and be too expensive for a single person to buy (a la snyder, jones, kraft).

look at the team magic johnson had to put together to buy the LA dodgers.
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Old 05-25-2012, 02:16 AM   #9
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Default Re: So who's going to replace the Rooneys when they pass?

Tony, you the man.

I think u should own your own % of the steelers organization.
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Old 05-25-2012, 04:04 AM   #10
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Default Re: So who's going to replace the Rooneys when they pass?

There still is a lot of individual billionaires out there to buy football teams, but I do see maybe a different ownership group in place as the heirs sell off on owning the team.

Art the 2nd could adopt me however and I would take good care of the team. I promise.
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