From the Wall Street Journal:
The Pittsburgh Steelers — owned for 75 years by the same local family — is secretly being shopped to potential buyers as the five sons of the football team’s founder and their heirs spar over the storied franchise’s future.
The statement said that Mr. Rooney and his son, Steelers President Art Rooney II, are arranging a financing plan to buy the brothers’ shares in the team in order to continue substantial ownership of the franchise by the Rooneys.
“I will do everything possible to work out a solution to ensure my father’s legacy of keeping the Steelers in the Rooney family and in Pittsburgh for at least another 75 years,” Dan Rooney said in the statement.
But some of his brothers and younger third-generation family members have sought an independent analysis by a top Wall Street investment bank to see whether a better deal can be put together. They worry that Dan Rooney’s plan undervalues the team and takes on too much debt.
Readers are writing me all, “Nooooooooooooooooooooooooooo!”
Let’s stay calm and let this work itself to where it’s going to go.
I’m not flinging myself off of any bridges yet.
Not unless they sell the team to some Mexicans like those infidel Kennywood owners did.
(I’m. just. kidding. Don’t write me, yo.)