Report: Rooney Family Sells Minority Stake in Steelers

The family that owns the Steelers has reportedly sold a 10% stake in the team to a group of investors.
Report: Rooney Family Sells Minority Stake in Steelers
Report: Rooney Family Sells Minority Stake in Steelers /

NFL owners last week approved the sale of a minority stake in the Steelers, sports business site JohnWallStreet reports

A pair of unknown investors purchased a 10% stake in the franchise and “received a ‘standard’ twenty-percent non-control discount on a valuation ‘within the ballpark’ of Forbes’ $2.8 billion estimation,” according to the report. The transaction was approved at last week’s NFL owner meetings in Florida. 

Former Steelers minority owner David Tepper was forced to relinquish his stake in the club when he became the majority owner of the Panthers in May 2018. Tepper was believed to hold a 5% stake in the club and Steelers president Art Rooney II said in July that the team was looking to bring in new investors rather than redistribute Tepper’s shares to existing partners. 

Rooney’s father, Art Rooney Sr., founded the Steelers in 1933. He paid a $2,500 franchise fee, about $50,000 in today’s economy.


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Dan Gartland
DAN GARTLAND

Dan Gartland is the writer and editor of Sports Illustrated’s flagship daily newsletter, SI:AM, covering everything an educated sports fan needs to know. He joined the SI staff in 2014, having previously been published on Deadspin and Slate. Gartland, a graduate of Fordham University, is a former Sports Jeopardy! champion (Season 1, Episode 5).