NFL: Rooney’s death won’t threaten Steelers ownership
How might Dan Rooney’s death in April affect the ownership of the Steelers?
In strict terms of Rooney family ownership, not at all, two highranking NFL officials told the Pittsburgh Post-Gazette on Wednesday.
“I don’t mean to sound remotely cavalier about Dan Rooney’s passing; you cannot replace a Dan Rooney,” said Jeff Pash, the NFL’s executive vice president and general counsel, the No. 2 man in the league. “But from the standpoint of ownership structure and continuity, they are in, I think, a very good position.
“The family ownership I would think can be expected to continue for many, many, many years to come.”
Together, Dan and son Art Rooney II owned slightly more than 30 percent of the ballclub after a reorganization of Steelers ownership in 2009. NFL bylaws require ownership in a franchise of at least 30 percent combined by immediate family members of a team that has been in one family for a period of years.
At the time of the ’09 reorganization, Steelers president Art Rooney II fulfilled another league rule that required the principal owner to have at least 20 percent of the franchise (that NFL requirement has since been reduced to 5 percent).
Dan Rooney’s stock was placed in a trust at the time of the Steelers’ 2009 reorganization and it will remain there, although at some point moves may be made to distribute it.
“From the ownership rules perspective, from the league’s perspective, we would look that Art is owning a necessary percentage and has necessary control whether it’s through a trust or company or otherwise, which he does,” said Jay Bauman, the NFL’s senior vice president for legal and business affairs. “The family owns the requisite percentage collectively. ... Beyond that, from our perspective [Dan Rooney’s stock] can stay in trust.”
The only visible change since Dan Rooney’s death was the addition of Dan Rooney Jr. to the public list of the Steelers ownership group on Page 8 of the team’s 2017 media guide. A younger brother of Art Rooney II, he is one of 19 men listed as part of ownership and one of five Rooneys in the group.
However, Steelers spokesman Burt Lauten noted that while the disclosure is new, Dan Rooney Jr. has owned a piece of the team for some time. Besides the two sons, three other Rooneys are listed among the owners: Art Rooney Jr. and John Rooney, brothers of the late Dan Rooney, and Brian Rooney, one of Dan Rooney’s nephews. There was a second reorganization of Steelers ownership in late 2015 in which some Rooney brothers and the McGinley family sold much of their stock in the team to other investors. Those transactions were required by the agreement reached during the original reorganization in 2009, Art Rooney II told the Post-Gazette in early 2016.
“The family ownership structure is in all respects in full compliance with league rules,” Mr. Pash said. “They have strong and supportive [limited partners], a very impressive group of people.
“I think it’s a strong ownership structure; it’s a wellrespected group.”
Two other partners last year mentioned their desire to keep the Rooney family in control of the Steelers.
Former movie producer Thomas Tull, who has acquired more stock in the team since his original investment in 2009, said last year, “It’s very important to me that the Rooney family is always the head of the Steelers.” Jack McGinley, whose father was a partner in the Steelers with Art Rooney Sr., added, “I’m an Art supporter. And I hope my family can make another generation out of it with the Rooneys.”