PITTSBURGH (AP) -Pittsburgh Steelers chairman Dan Rooney's four brothers have agreed to sell a controlling stake of the team to him and his son, the Pittsburgh Tribune-Review reported.
Patrick and Art Rooney Jr. confirmed the deal in a story posted on the paper's Web site Friday night. They and their other two brothers - Timothy and John - could get a total of $750 million after debt is taken out, according to the report.
Art Rooney Jr. said the brothers hope to get the deal wrapped up before a board meeting in December. Both sides want to get a deal done by then because they are worried about possible higher taxes once the Obama administration is in office.
``It's a good deal. 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,'' Patrick Rooney told the paper. ``I think we're doing the right thing.''
Art Rooney II, Dan's son, is the team president.
er, Hall of Famer Art Rooney Sr., bought the franchise in 1933 for $2,500.
Several brothers wanted to focus their business efforts on racetracks and other non-football interests. The family owns racetracks in New York and Florida and has added forms of gaming that are inconsistent with NFL gambling policy, but Dan Rooney has no interests in the racing industry.
The Rooney family has owned the team since its inception, except for a brief period in 1941 when Art Rooney Sr. sold the team to Alexis Thompson and bought into the Philadelphia Eagles. Rooney regained control of his hometown Steelers in less than a year.

Recent NFL Discussions

2017 NFL Draft Grades on Sun, Apr 2017 by Blade
Betting the 2017 NFL Draft on Tue, Apr 2017 by Blade
NFL Draft Preview on Tue, Apr 2017 by Blade
2017 Heisman Odds on Wed, Mar 2017 by Blade
College / NBA today on Sun, Mar 2017 by TtomBoBadly

Top NFL Public Bets

NFL Top Stories

Thumbnail GM confident Falcons will sign Freeman Falcons general manager Thomas Dimitroff says he's confident that a deal with get worked out with running back Devonta Freeman.
Thumbnail Broncos' RB job open for competition The Broncos are set to have an open competition at running back for the 2017 season.
Thumbnail NFL Draft Prop Odds The 2017 NFL Draft gets underway later tonight. Here is a look at some of the featured prop odds for tonight’s first round.

NFL Team Pages