Is it time for the Rooneys to give up the Steelers?

by 86HOF on Aug 7, 2008 10:35 AM EDT Comment 7 comments

Heresy to some I know but I wonder if reality isn't forcing the best decision to the forefront. Gerry Dulac's article today,

http://www.postgazette.com/pg/08220/902475-66.stm

has rekindled some thoughts that I've been having.

Isn't it better to have a dedicated billionaire owner than a dedicated millionaire owner? Of course Dan Rooney's dedication is above question and Druckenmiller's, though apparently genuine, is still to be proven.

Is this problem too close to Dan Rooney's heart to let him make the best decision for the team? How will the team compete with the debt that he'll have to take on to get majority ownership? As with his brothers, it seeems he's trying to do what he thinks is best for his family. But is that what's best for the Steelers?

It seems to me that three risks have to be weighed.

The likely risk that if Dan Rooney becomes majority owner that he will need to mortgage (at least part of) the team's future to do so. Is his family's heritage blinding him to the financial realities? And I know the league wants him to retain ownership but are the NFL's priorities the same as the Steeler nation? I can see Goodell wanting to help Rooney retain ownership simply as a reward for getting him the job of commissioner and all that he's meant to the league.
Sure Stanley Druckenmiller is saying all of the right things. But we don't really know what kind of owner he'll be. And even if he honors the statements that he's made, will his heirs? I think Art II and his descendants will certainly maintain the commitment to Pittsburgh. Who are Druckenmiller's heirs and what history will they have guiding the decisions they'll make about the team?
Unknown buyer. If Dan Rooney can't convince his brothers to sell to him and they choose someone other than Druckenmiller then the future is unknown. There's not a lot of good that I can see in this outcome that isn't already inherent in the sale to Druckenmiller. And there is a LOT of bad that could come from it.

Is Druckenmiller the higher risk, higher reward option just like the hedge funds he manages and the Rooney's the savings account option, safe in the bank but watching inflation erode its value?

As it stands today, I'm leaning towards Stanley Druckenmiller as my preferred Steelers owner (since the league made it impossible for a city to own its team).

If you had to decide, how would you invest?

0 recs | Comment 7 comments

Story-email Email Printer Print

Comments

Do we have to talk about this?

....yuck.

We stick to grass. We want the power running game. We want solid defense. We don’t want mascots (mostly)...and We want the Rooneys.

Druckenmiller might be the best guy in the world, might really just support and not get his fingers in the middle. Then again, his money might change the identity of the team.

I’m nowhere near anyone who could make this decision, but the Rooney legacy is part of the team, and I’d hate to loose that. (I must in fairness note that I was also sad to loose Three-Rivers -saw a Discovery show on them blowing it up and didn’t like it, sad to loose just about every starter that plays for us and some of the backups too, and I’ll be sad when my old Steelers T-shirt that I used to play football in gets too old to wear anymore) I know I’m sentimental and set in my ways, but the team is the team and the tradition is the tradition.

by SCSteeler on Aug 7, 2008 2:19 PM EDT reply actions 0 recs

most amazing thing in that

is Druckenmiller is going to pay CASH, NOW. Even when other billionaires have bought teams they haven’t done it cash up-front all at once. That is incredible. Obviously, he’s going to write a check for the amounts, but he actually has that cash in a bank account, some 800 million dollars. That’s just crazy. I know he is worth 3.5 billion but the worth includes property and stocks and what not, alot of times they don’t have just boatloads of cash sitting around. What I would like to see if Druckenmiller buy out 3 of the brothers in a cash deal, then he is the majority owner, but Dan buy out one of the brothers, so his stake is at 32% and he can still be considered the “primary” owner for league purposes, although sounds like Drucky will let Dan & Art II run the team anyways. But regardless, that seems like the best win-win scenario to me.

by TheMostViolentTeam on Aug 7, 2008 2:40 PM EDT up reply actions 0 recs

There’s something just wrong with the “let” in the idea that the Rooneys will still be with the team after a buyout.

Just the way it plays for me…

by SCSteeler on Aug 7, 2008 5:36 PM EDT up reply actions 0 recs

i hated

to see Three Rivers go down. Came close to shedding a man tear. Saw a ton of football and baseball there, actually played a game there too.

by steelerark on Aug 8, 2008 11:47 AM EDT up reply actions 0 recs

Costs are only going to rise

and those signing bonuses are going to get harder to pay. In that respect, it’s easy to see the attraction of deep pockets.

But other than that, we have proven, dedicated ownership, and a complete unknown, whatever he says about himself (do you think anybody involved on his side is really going to say “Yeah, I don’t think he really gets football.”)

I'd have no problem if he wanted to join Dan and his son and McGinley in an ownership group somehow, but I seriously doubt that he'll be as good an owner. That's not a knock on him, that's just playing the odds.

by Desroko on Aug 7, 2008 3:01 PM EDT reply actions 0 recs

That's weird.

Anyway

I’d have no problem if he wanted to join them in an ownership group, but as a principal owner, he’s almost certainly not going to be as good as what we have now. That’s not a knock on him, that’s playing the odds.

by Desroko on Aug 7, 2008 3:03 PM EDT up reply actions 0 recs

Tuff call!

I’m nostalgic. I’m also sentimental. I would hate to see the Rooney’s go. I’ve been a Steeler fan for over 50 years. In the early days I can remember my dad saying, “the Rooneys are too cheap,” or, “same old Steelers.” Like I said “in the early days.” If it can be done Dan Rooney will get it done. If it can’t, I would think Druckenmiller would be an excellent option. I believe we are already beginning to see some “fallout” from the dilemma with Dan & Art not trying to extend contracts. Lets hope it comes to an end soon because contrary to whats been said, it can become a distraction.

by steelersrock08 on Aug 7, 2008 6:06 PM EDT reply actions 0 recs