Report: Sale agreement to keep Steelers in Rooney family

Nov 15, 2008 - 8:34 AM PITTSBURGH (Ticker) -- After much squabbling, the Pittsburgh Steelers will remain in the Rooney family as four brothers have agreed to sell their stake to their brother - and team chairman - Dan Rooney and his son, Art II.

The deal could pay brothers Art Jr., Patrick, Timothy and John Rooney a total of $750 million after business debt is subtracted. The sons of deceased team founder Art Rooney would like to finalize the deal prior to a meeting scheduled for next month, the Pittsburgh Tribune-Review reported on its web site Friday.

"It's a good deal," Patrick told the newspaper. "I'm happy for Dan. I'm happy for the rest of the family. I think young Art, Dan's son, will do a fine job. I think we're doing the right thing."

The team ownership breakdown has each of the five Rooney brothers with a 16 percent stake. Their relatives, the McGinleys, have the remaining 20 percent.

"It was a struggle to get all of this back on track," Art Jr. told the Tribune-Review. "But everyone has been talking to each other, and it seems we're all moving in the right direction. It's been like you're in the service, and you're on a long march through the sand - three steps forward, then two steps back."