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Rooneys trying to restructure Steelers ownership

Mon 7th, July 2008

Pittsburgh, PA (Sports Network) - The Rooney family has been trying to rework ownership of the Pittsburgh Steelers.

A statement released by the team Monday disclosed that "for the past two years the Rooney family has had discussions about a restructuring of the family's ownership of the Steelers in order to ensure compliance with NFL ownership policies and the continuation of Rooney family ownership and operation of the team."

According to the statement, team chairman Dan Rooney, the oldest son of late team founder Art Rooney, wants to remain in the football business, but some of his four brothers want to get out of the NFL to focus their business interests on their racetracks and other ventures. Dan Rooney, and his son, Steelers president Art Rooney II, are working out a financing plan to buy Dan's brothers' shares in the team, according to the statement.

The other Rooney brothers - Art Jr., Timothy, Patrick and John - each has an ownership interest in the Steelers. Another related family, the McGinleys, also owns a minority interest in the team.

"I have spent my entire life devoted to the Pittsburgh Steelers and the National Football League," Dan Rooney said in a statement. "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."

The Rooney family owns racetracks in New York and Florida, which is not consistent with the NFL's policy on gambling.

NFL commissioner Roger Goodell asked former commissioner Paul Tagliabue to serve as a league representative in discussions with the Rooneys to reach an accord.

"There is no reason to believe that the current internal discussions will have any impact on our fans or on our team this season or in the seasons to come," Art Rooney II stated.

Founded in 1933, the Steelers are the oldest and most championed franchise in the AFC. They have made six Super Bowl appearances winning five titles. Last season, the Steelers finished 10-6 in the regular season, winning the AFC North, but then lost to Jacksonville in the first round of the playoffs.

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