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Ownership issue resolved this week?

Postby thesteelhammer » Wed Sep 17, 2008 10:04 pm

Two offers = the right one & the wrong one.
Cross your fingers :suxfingers: the future of the franchise is at stake.

http://www.post-gazette.com/pg/08261/912643-85.stm?cmpid=steelers.xml

Steelers' ownership talks nearing decision
Rooney brothers weighing 2 offers
Wednesday, September 17, 2008
By Ed Bouchette and Gerry Dulac, Pittsburgh Post-Gazette
The Steelers could take a first major step in solving their ownership issue by the end of this week as four Rooney brothers try to choose between two "final" offers for their shares in the franchise.

While they've had both offers for months, one from their brother Dan Rooney and his son Art Rooney II, and the other from billionaire Stanley Druckenmiller, details of both took some time to be worked out with the brothers' investment bankers, Goldman Sachs.

"Now we have all the information,'' one family member told the Post-Gazette. "I'm not saying anything's consummated. Nothing's been consummated."

A decision is expected soon, however, by Dan Rooney's four younger brothers: Art Jr., Tim, Pat and John. Combined, they own 64 percent of the team. Dan Rooney owns 16 percent and the other 20 percent is divided among Pittsburgh's McGinley family, which has not been involved in negotiations for their shares.

"It's a big week,'' one Rooney family member said.

Mr. Druckenmiller gave the four brothers a Friday deadline to receive a decision from them. Another family member said he felt the deadline helped the process along when it was issued about six weeks ago. It has been difficult to determine, however, whether it's a hard deadline or if Mr. Druckenmiller would be willing to give the Rooneys more time.

Even when a deal is accepted by the brothers, the NFL must approve any ownership change and commissioner Roger Goodell has said league owners prefer the Rooneys remain in control of the Steelers.

Art Rooney Jr. has said he thought the process of picking an offer would have ended before the Steelers began playing football in the regular season.

"Now, three games could come and go before it happens," a family member said.

Mr. Druckenmiller's offer is an immediate cash payment for the shares of the four brothers, and he has made it clear to them he wants majority control of the team and has no interest in a minority stake. Dan Rooney's offer to his brothers involves payments spread out over a number of years.

Neither offer has changed. Dan Rooney and his son have made two offers and plan no more. They showed a draft of their first offer to the brothers, then made the offer formally, so at one point some mistakenly thought they were two separate offers. When the brothers balked at that offer, Dan and Art II came up with another and have stuck with that for months.

Mr. Druckenmiller, the chairman of Pittsburgh-based Duquesne Capital Management, made his offer to the four brothers nine months ago and nothing has changed in it. Sources have told the Post-Gazette that if Mr. Druckenmiller does get control, he wants Dan Rooney to run the team with a great deal of authority.

Possibly adding to the haste in closing any deal on either side were the shockwaves coming from the nation's banking industry and stock market. On Monday, investment bank Lehman Brothers filed for bankruptcy and brokerage firm Merrill Lynch was taken over by Bank of America for $50 billion. On Monday, the stock market plunged more than 500 points.

Under those financial circumstances, it's impractical that either offer would be raised.

The Steelers' worth has been estimated at between $800 million and $1.2 billion. While neither side has publicly disclosed its offer, a median price of $1 billion would mean that a buyout of the four brothers could be around $640 million for their 64 percent ownership.

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Re: Ownership issue resolved this week?

Postby Nel » Wed Sep 17, 2008 10:43 pm

"Druckenmiller" is a partly Americanized form of German Druckenmüller, a distinguishing name for a miller whose mill was situated in a dry place.

I'm hoping he stays true to his name and comes up "dry" in his quest for Steelers ownership.

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Re: Ownership issue resolved this week?

Postby Hoppy » Thu Sep 18, 2008 8:53 pm

Drukenmiller's Hedge Fund walks on the deal...................it's on the Wall St. wires.

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Re: Ownership issue resolved this week?

Postby thesteelhammer » Thu Sep 18, 2008 9:18 pm

Hoppy wrote:Drukenmiller's Hedge Fund walks on the deal...................it's on the Wall St. wires.


can you give us any more info on that?

Here's what the Post-Gazette has to say:

http://www.post-gazette.com/pg/08262/913323-13.stm
Druckenmiller withdraws name from Steelers sale
Thursday, September 18, 2008
By Gerry Dulac, Pittsburgh Post-Gazette

Druckenmiller drops bid for Steelers: "Given my love for Pittsburgh and what I know the team means to the city, I wish them [the Rooney family] all the same success they have had in the past. Go Steelers!"

The four Rooney brothers have told New York billionaire Stanley Druckenmiller they are turning down his offer to buy each of their 16 percent shares in the Steelers, ending a seven-month courtship in which Druckenmiller was seeking to gain controlling stock interest in the franchise.

Druckenmiller told the Pittsburgh Post-Gazette he is "disappointed" and is withdrawing his name from the sale process.

However, the decision to not accept Druckenmiller's offer does not mean the Rooney brothers will sell their shares to their oldest brother, Steelers chairman Dan Rooney, who has also made an offer to purchase their combined 64 percent shares. Instead, they may opt to entertain other outside bids in an attempt to gain more money for their shares, according to sources familiar with the situation.

The four Rooney brothers held a vote this afternoon and called Druckenmiller, chairman of Pittsburgh-based Duquesne Capital Management, with their decision.

In a prepared statement sent to the Post-Gazette, Druckenmiller said, "Seven months ago, I was approached by members of the Rooney family about purchasing their interest in the Pittsburgh Steelers. I engaged in discussions about a possible transaction because a number of family members told me that, after years of effort, they were unlikely to be able to resolve the estate planning and NFL ownership matters of great concern to them.

"If an external solution was necessary, I believed that I could provide the family with an appropriate transaction that also would be in the best long-term interests of the Steelers, the NFL and the city of Pittsburgh. The solution I proposed included a request that Dan Rooney continue to manage the Steelers organization.

"Throughout our discussions, I made clear that if the family could resolve these matters internally it should do so and I would gladly remain only a devoted Steelers fan. Based on recent developments, it has become clear that the Rooneys need substantial additional time to assess their options. I do not wish to complicate these efforts, and I also do not want the lingering uncertainty about my possible involvement to become a distraction to my business and my family.

"For these reasons, I have removed myself from the process. On a personal note, having spent time with all five Rooney brothers, I have come to hold them all in high regard, and it is easy to see why the organization has been so successful. Given my love for Pittsburgh and what I know the team means to the city, I wish them all the same success they have had in the past. Go Steelers!"

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Re: Ownership issue resolved this week?

Postby thesteelhammer » Fri Sep 19, 2008 9:02 pm

Pretty interesting what Pittsburgh's two papers have to say about this situtation.
They seem to have painted Drunkenmiler as a good guy, and the Rooney Family as unable to agree amonst themselves.

http://www.pittsburghlive.com/x/pittsburghtrib/sports/steelers/s_589022.html?source=rss&feed=9
Druckenmiller yanks $800 million bid for Steelers
By Carl Prine
TRIBUNE-REVIEW
Friday, September 19, 2008

After seven months of negotiations, billionaire Stanley Freeman Druckenmiller on Thursday ended his bid to buy the Pittsburgh Steelers.

His withdrawal from negotiations followed a 4:30 p.m. meeting in Pittsburgh of four of the five sons of franchise founder Art Rooney Sr. They balked at Druckenmiller's cash tender -- reputed to hover near $800 million for a majority stake in the club -- and now the team is on the block awaiting a higher bid.

Wall Street investment banks have pegged the value of the Steelers at $700 million to $1.2 billion, but that was before a financial meltdown burned billionaires' portfolios worldwide.


An offer from eldest brother Steelers Chairman Dan Rooney and his son, President Art Rooney II, to buy out the other brothers -- Art Jr., Timothy, Patrick and John -- apparently remains on the table. The brothers either declined comment or did not return messages seeking comment last night.

"I only wanted to be a solution, never a distraction," said Druckenmiller, a hedge fund genius and philanthropist who 33 years ago took a job with Pittsburgh National Bank -- today's PNC -- after a brief stay in the University of Michigan's graduate program for advanced economics.

At Pittsburgh National, he researched stocks before founding his own firm, Duquesne Capital, in 1981. He has lived in New York since 1985.

Druckenmiller, 55, told the Pittsburgh Tribune-Review that his quest to own the team that has won five Super Bowls was motivated by a deep civic pride in the city that shaped him and continues to form his values.

"I love Pittsburgh. I love blue collar people and I miss them. That was the city that gave me my first chance. All the relationships I built then helped to make me what I am today. And the relationship Pittsburgh has to the Steelers is like no other city in the NFL.

"Through the hard times, Pittsburgh has always followed the Steelers. The success of the team mattered, and it's been a successful team largely because of Dan Rooney. The respect I have for him is really, well, beyond respect."

Druckenmiller had long pledged to keep both Hall of Famer Dan Rooney and his son, Art II, at the helm of the Steelers, insisting that the best way to ensure a winning team was with football minds who had proved their mettle on the gridiron.

Like his four brothers, Dan Rooney, 76, owns a 16 percent cut of the franchise. Their cousins, the McGinley clan, own the remaining 20 percent, with half of their stake controlled by Rita McGinley, who refuses to sell.

NFL Commissioner Roger Goodell has been prodding the Rooneys either to sell the team or to divest from their increasingly lucrative casino gambling operations at their racing tracks in New York and Florida.

NFL spokesman Greg Aiello, however, told the Trib yesterday that the commissioner had "set no deadlines for when they have to restructure" their gambling and football empire.

The Rooney brothers also have told the Trib they're concerned about looming estate taxes that could gobble half the legacy they hope to leave to their large brood of children and grandchildren.

In a prepared statement, Druckenmiller acknowledged the "great concern" the Rooney family had about taxes and the NFL mandate, but conceded it had "become clear that the Rooneys need substantial additional time to assess their options. I do not wish to complicate these efforts, and I also do not want the lingering uncertainty about my possible involvement to become a distraction to my business and my family.


"For these reasons, I have removed myself from the process. On a personal note, having spent time with all five Rooney brothers, I have come to hold them all in high regard, and it is easy to see why the organization has been so successful. Given my love for Pittsburgh and what I know the team means to the city, I wish them all the same success they have had in the past."


He signed off with a cheer: "Go Steelers!"

The McGinley cousins and their aunt Rita weren't at yesterday's meeting. Their shares don't have the same voting rights as those belonging to Art Rooney Sr.'s sons, and the McGinleys continue to downplay suggestions that they would be willing to sell.

"I really think we have made it pretty clear that we're not sellers, and we have nothing but the highest respect for Mr. Druckenmiller," said John R. McGinley Jr., a partner at the Downtown law firm of Eckert Seamans Cherin & Mellot.

"But there are a lot of moving pieces to this deal. What we've talked about is, 'Let's just wait and see what happens.' The Rooneys have a lot of decisions to make first. Our family has been part of this football team for 65 years, so we can wait a little to see where everything ends up."




BUT....

http://www.post-gazette.com/pg/08263/913403-66.stm?cmpid=steelers.xml


Rooney brothers reject Druckenmiller's bid
Financier withdraws offer, believed to be about $550 million; other bids may be sought for Steelers
Friday, September 19, 2008
By Gerry Dulac and Ed Bouchette, Pittsburgh Post-Gazette
The four Rooney brothers have told New York billionaire Stanley Druckenmiller they are turning down his offer to buy their shares in the Steelers, ending a seven-month courtship in which they approached him with an opportunity to gain controlling stock interest in a franchise he always dreamed of owning.

After taking a vote in a late afternoon meeting, one of the Rooney brothers called Mr. Druckenmiller last night to tell him of their decision. Mr. Druckenmiller, chairman of Pittsburgh-based Duquesne Capital Management, immediately withdrew his offer to purchase each of their 16 percent shares. His offer was believed to be in the neighborhood of $550 million.

The vote to reject Mr. Druckenmiller's offer does not mean, however, that the Rooney brothers -- Tim, Patrick, John and Art Jr. -- have decided to sell their shares to their oldest brother, Steelers chairman Dan Rooney, who has also made an offer to purchase their combined 64 percent shares. Instead, they may opt to entertain other outside bids in an attempt to gain more money for their shares, according to sources familiar with the situation.

"Of course I'm disappointed," Mr. Druckenmiller told the Post-Gazette last night-- his first interview on the subject since he was approached by the Rooney brothers in February to help them resolve their estate planning issues and team ownership structure. "But those are their shares and they have every right to seek a higher price for them."

A family source told the Post-Gazette that John Rooney argued for his brothers to take Dan Rooney's offer at their meeting, but no decision was made on that matter.

"Neither proposal had sufficient support in its current form," said Art Rooney Jr., one of the brothers.

Mr. Druckenmiller, 55, an ardent Steelers fan who has season tickets to Heinz Field, viewed himself as a solution, not a problem, to the Steelers ownership issue. His offer to purchase the shares of the four brothers included an immediate cash payment -- a move he thought would greatly benefit the long-term health of the franchise and allow the Steelers to have financial freedom to remain competitive on the field because there was no interest or debt service

In addition, he wanted to retain Dan Rooney and his son, Art II, the team president, in their current roles. Mr. Druckenmiller even planned to designate Dan Rooney as the team's "principal owner," a role that would give him much of the same decision-making power he has now and even allow him to veto Mr. Druckenmiller himself in any league-related matter.

Mr. Druckenmiller, who has an estimated net worth of $4.5 billion, was seeking to gain majority stock control of the franchise and was not interested in being a minority partner.

In a prepared statement sent to the Post-Gazette, Mr. Druckenmiller said, "I believed that I could provide the family with an appropriate transaction that also would be in the best long-term interests of the Steelers, the NFL and the city of Pittsburgh. The solution I proposed included a request that Dan Rooney continue to manage the Steelers organization.

"Throughout our discussions, I made clear that if the family could resolve these matters internally, it should do so and I would gladly remain only a devoted Steelers fan. Based on recent developments, it has become clear that the Rooneys need substantial additional time to assess their options. I do not wish to complicate these efforts, and I also do not want the lingering uncertainty about my possible involvement to become a distraction to my business and my family. "

Mr. Druckenmiller imposed a flexible Sept. 19 deadline on the four Rooney brothers six weeks ago, hoping to bring some conclusion -- or even just productive movement -- to the process. That forced the brothers to meet yesterday and take a vote on his offer, even though Art Rooney Jr. told the Post-Gazette before the scheduled meeting that he wasn't going to vote.

"The deadline doesn't mean too much to me, with all due respect to Mr. Druckenmiller,'' he said. "I just want to do things that are right for my family and the Steelers, too, not because there's a deadline. If you're going to do things, you want to do it when it's right, not because of a deadline."

The process of selling stakes in the franchise began when the National Football League told the Rooneys they could not own racetracks with casinos and still be involved in ownership of the Steelers. What's more, the league also said they must abide by rules that require one owner to have at least 30 percent stock in the team.

Each of the five Rooney brothers, including Dan, the oldest son of founder Art Rooney Sr., owns 16 percent of the team. The other 20 percent is owned by members of Pittsburgh's McGinley family.

Art Rooney Jr. said the time is near for him and his three brothers to decide what to do with their shares.

"You get to a point where you have to make a decision in your life and we're there right now,'' he said. "It came about because of the NFL and its rules on gambling, which are very appropriate, and the other technical thing about their ownership deal.

"We've had a situation put on us by the league . . . I think we're getting close to the time where we have to make a decision."

That decision, though, does not include Mr. Druckenmiller.

"On a personal note, having spent time with all five Rooney brothers, I have come to hold them all in high regard, and it is easy to see why the organization has been so successful," Mr. Druckenmiller said in the statement. "Given my love for Pittsburgh and what I know the team means to the city, I wish them all the same success they have had in the past."

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Re: Ownership issue resolved this week?

Postby Steeledge » Sat Sep 20, 2008 1:26 am

...not likely

Seems like the "other Rooney bros" are trying to hold onto their Steelers interest AND the gaming debauchery as long as they can...

It's going to come down to the NFL pulling the plug in their dual ownership to get them to move, and by then Fuckenmiller and the rest of his kind will be long gone.

The lone hero in all this will end up being Dan, and all of those that have been with him all along will follow, as it should be.

There's so much more to The Steelers than The Rooneys...
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Re: Ownership issue resolved this week?

Postby thesteelhammer » Sat Sep 20, 2008 9:14 am

That's like saying there is so much more to a car than the Tires. Great, but the car doesn't drive the same with out them.

Here's the latest:

http://pittsburghlive.com/x/pittsburghtrib/s_589212.html
Rooneys to wait before looking at other possibilities
By Scott Brown and John Harris
TRIBUNE-REVIEW
Saturday, September 20, 2008

Steelers Chairman Dan Rooney said Friday that the NFL franchise will remain in the family for now after his brothers rejected buyout offers by him and billionaire Stanley Druckenmiller.

"While we would have preferred our bid to have been accepted, we will continue our efforts to maintain the ownership of the Steelers in our family," Dan Rooney and his son, team President Art Rooney II, said in a prepared statement. "We look forward to ongoing dialogue within the family toward that goal."

The collapse of the negotiations between the Rooneys themselves and Druckenmiller ended weeks of public speculation about the future ownership of the franchise founded in 1933 by the late Art Rooney Sr.


Dan Rooney's brothers -- Art Jr., Pat, Tim and John -- have not talked to any other potential buyers, Art Rooney Jr. told the Tribune-Review.

Art Rooney Jr. said the brothers hope to take a "breather" from their efforts to resolve the ownership issue so it doesn't become a distraction to the Steelers.

Druckenmiller, a rabid fan, bowed out of negotiations Thursday when the brothers rejected his $800 million offer. Each brother owns 16 percent of the team.

When asked if the brothers will wait until after the season to resume any meaningful discussions on future ownership of the Steelers, Art Rooney Jr. said, "I honestly don't know."

The NFL has prodded the Steelers to restructure their ownership because the Rooneys own race tracks in New York and Florida that have casino gambling. That violates the league's gambling policy.

The Steelers also are in violation of a league rule that requires a majority owner to hold at least 30 percent of the team. The McGinley family owns the remaining 20 percent of the Steelers.

NFL spokesman Greg Aiello said no deadline has been set for the ownership issues to be resolved. He added that nothing has been scheduled as far as Commissioner Roger Goodell meeting with the five brothers -- something he did in August at NFL headquarters in New York -- to resolve the issue.

"The goal everyone shares is to resolve this as soon as possible," Aiello said via e-mail.

Art Rooney Jr. said the brothers have talked with only Dan Rooney and Druckenmiller about selling their shares. The brothers approached Druckenmiller seven months ago.

"We never shopped this deal around out of respect for my dad's memory and the Steelers and Pittsburgh and that," Art Rooney Jr. said. "Dan presented us with the deal, and we engaged Mr. Druckenmiller and talked to him for so long. Neither Dan's nor Mr. Druckenmiller's offer had sufficient support among the family."

Druckenmiller called Dan Rooney about 8 p.m. Thursday when he heard that neither of their offers had been accepted by the brothers.

"It could not have been a more congenial call," Druckenmiller said. "It was a great conversation. He couldn't have been nicer."

Finding an outside buyer willing to pay what the brothers want won't be difficult, despite the recent upheaval in the nation's financial markets, a leading sports franchise evaluation consultant said.

Don Ericson, president of Ericson Partners LLC of Dallas, said enough people have sufficient cash needed to buy an NFL franchise.

Forbes recently valued the Steelers, one of only three teams to win five Super Bowls, at about $1 billion.

"The economy won't mean squat. Nada," Ericson said. "One of my buyers over the years that bought an NFL team, he could write a bad check for $300 million and they would cash it at the bank, he was that strong.

"These are people that can write a bad check for $200 million, and their banker will cash it. Those are the kind of people that will buy NFL teams. They're just too big a toy."

Art Rooney Jr. said he and his brothers haven't discussed when they will resume the sales process.

Dan and Art Rooney II echoed Art Rooney Jr.'s hopes that the uncertain ownership situation does not take the focus away from what happens on the field.


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Re: Ownership issue resolved this week?

Postby Steeledge » Sat Sep 20, 2008 2:49 pm

thesteelhammer wrote:That's like saying there is so much more to a car than the Tires. Great, but the car doesn't drive the same with out them.


Don't avert my point, though. The Mobster side of the Rooney family wants to keep both their Steelers holdings AND their nefarious gaming interests for as long as they can. Remember, it's the NFL that's telling them:

a> That they have to give up one or the other, and
b> There must be ONE majority owner with at least a %30 interest in the team.

Dems da rules, all NFL teams have to abide, and the Steelers ownership is currently in violation of both.

All this smoke and mirrors and "failed" mating dance with Drunkenmiller has been a stall tactic to keep the pressure from the NFL at arm's length.

Now that Fuckenmilker is out of the picture, it will be up to the NFL to put the pressure on and perhaps even threaten to pull the plug on them to get them to move. :sufootballreferee: Until that happens, I don't see them going anywhere. When it does finally happen and the Gangstuh Rooneys are forced to give up one or the other, Danny boy and Art II, who are the only ones not soiled by dirty gaming money and have been right there all along, will suddenly have the right offer for them.

At this point, it's the NFL's move. When it's all said and done, the Steelers will be none the worse for wear. Whether it's with a completely new set of "tires" or the retreads, we'll keep on rolling... :subngtowl:
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Re: Ownership issue resolved this week?

Postby thesteelhammer » Sat Sep 20, 2008 4:34 pm

Mobsters? nefarious? Gangstuh?
You're a little over the top there Edge.

IMO, it's questionable wheather the NFL could even enforce this rule.

And it does matter who owns the team, ask Reskins fans about Daniel Snyder, or Cowboy fans wheather it is different with Jerry Jones.

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Re: Ownership issue resolved this week?

Postby lloydrules » Sat Sep 20, 2008 4:39 pm

thesteelhammer wrote:Mobsters? nefarious? Gangstuh?
You're a little over the top there Edge.

IMO, it's questionable wheather the NFL could even enforce this rule.

And it does matter who owns the team, ask Reskins fans about Daniel Snyder, or Cowboy fans wheather it is different with Jerry Jones.


Rooneys have a clear mob background. And they use the cap as an excuse to spend more $ than they could in bringing in better free agents. They are cheap in many regards. Are they the worst owners? No where near it. But they aren't innocent, pure as the driven snow and they don't truly do their best to improve the team on all levels. Do I want 10 new free agents each year like the Skins? NO. Would I like to see a tad more effort in filling holes with quality players on their 2nd contract, such as a few more linemen over the last 3 years? Hell yes.

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Re: Ownership issue resolved this week?

Postby Steeledge » Sat Sep 20, 2008 5:03 pm

thesteelhammer wrote:Mobsters? nefarious? Gangstuh?
You're a little over the top there Edge.


...well, maybe just peeking over, but there's a point. Don't miss it by trying to glamorize the Gaming connection as some wholesome saintly philanthropy - the industry is notoriously linked with some shady characters and dealings. It is what it is...

thesteelhammer wrote:IMO, it's questionable wheather the NFL could even enforce this rule.


there, you might have a point, especially considering it's somewhat of an ex-post-facto rule in the case of the Rooney ownership. Still, even though they are owners of a team, that team is part of a much larger partnership in the league. When they signed on to the league, they agreed to adhere to the rules laid out for team ownership within that league.
Even if those rules have changed mid-stream.

thesteelhammer wrote:And it does matter who owns the team,


I couldn't agree more. I'm just not as tensed up at the possibility of earth-shattering changes in Steelers ownership as some appear to be.
Though I may have referred to the "Other Brothers" as Mobsters, nefarious, Gangstuh, etc., I didn't say they were stupid businessmen or even disloyal to the Steelers or family. That last part is vital, IMHO - they've seen the impact that Dan, Art II, and even Cheif Jr. have had on this team and the league as a whole. Shoot, that's why they really don't want to give up their part of it, and are stonewalling at making any moves.

The point is, when it comes time for the NFL to force them to make a move, I seriously think they will see Dan and Art II as the right ones to continue doing the best job possible, "best value for our pieces" be damned if it comes to that.

P.S.
thesteelhammer wrote:ask Reskins fans about Daniel Snyder, or Cowboy fans wheather it is different with Jerry Jones.

...do we even need to bother with the Raiders fans? ...
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Re: Ownership issue resolved this week?

Postby Steeledge » Sat Sep 20, 2008 5:06 pm

lloydrules wrote:Rooneys have a clear mob background. And they use the cap...


Please don't mention the Rooneys' mob background and their use of "the cap" together...

...I'm getting a little nervous... ;)
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Re: Ownership issue resolved this week?

Postby thesteelhammer » Sat Sep 20, 2008 5:31 pm

Don't be fooled. It isn't the NFL's rules that are bringing about this ownership issue.
(Again, they probably aren't enforceable.)

It is the death and inheretance tax laws.

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Re: Ownership issue resolved this week?

Postby Steeledge » Sat Sep 20, 2008 5:51 pm

thesteelhammer wrote:Don't be fooled. It isn't the NFL's rules that are bringing about this ownership issue.
(Again, they probably aren't enforceable.)

It is the death and inheretance tax laws.


So, the rules of "%30, one-party-controlling ownership", and "no dual ownership of an NFL franchise and gambling facilities" have no influence or bearing on this whatsoever?!? :roll:

OK, it's Saturday...
yer allowed to drink your lunch... :cheers:
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Re: Ownership issue resolved this week?

Postby thesteelhammer » Sat Sep 20, 2008 6:20 pm

Steeledge wrote:
thesteelhammer wrote:Don't be fooled. It isn't the NFL's rules that are bringing about this ownership issue.
(Again, they probably aren't enforceable.)

It is the death and inheretance tax laws.


So, the rules of "%30, one-party-controlling ownership", and "no dual ownership of an NFL franchise and gambling facilities" have no influence or bearing on this whatsoever?!? :roll:

OK, it's Saturday...
yer allowed to drink your lunch... :cheers:


There you go, over the top again.
I didn't say "what-so-ever", nor did I say "no influence", nor "no bearing".
Always the extremes with you.

I did say "bringing it about" as in being the driving force.
Goodell isn't pushing it, and hasn't set any date - so no, the NFL rules aren't the driving force here. Time is. Those "mobsters" aren't getting any younger. :lol:

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Re: Ownership issue resolved this week?

Postby Steeledge » Sat Sep 20, 2008 6:46 pm

thesteelhammer wrote:Goodell isn't pushing it, and hasn't set any date...


...well, not yet he hasn't.
My whole point has been that the Rooney's have been doing the mating tango with Drillenmucker as a distraction to keep the Goodellas (Goodfellas? - OK, that's a stretch ;) ) at bay.
And now that Drunkenfucker has successfully practiced the withdrawal method before the seed took (how's that for over the top! :sudancin:), it just might force the NFL's hand to put the squeeze on the Rooneys to make a move towards compliance.

It's possible that Fuck-and-drill-her never intended to make that baby, that he was just entertaining a fantasy, and that stringing him on was all a Rooney ruse...
Wha make you tink I won cutchu, mang?!?

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Re: Ownership issue resolved this week?

Postby thesteelhammer » Sat Sep 20, 2008 7:31 pm

Steeledge wrote:It's possible ...



Anything is possibe.

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Re: Ownership issue resolved this week?

Postby jstallworth82 » Sun Sep 21, 2008 12:32 am

I think that maybe some may want to do a little research before making claims about family histories. And not throw bricks from within the walls of their glass house.

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Re: Ownership issue resolved this week?

Postby Steeledge » Sun Sep 21, 2008 3:04 pm

jstallworth82 wrote:I think that maybe some may want to do a little research before making claims about family histories....

Rooney

Ruanaidh

jstallworth82 wrote:And not throw bricks from within the walls of their glass house.


What the hell does that even mean?!? :roll:

I don't own a single horsetrack or gaming table or anything else that involves gambling. Shoot, I don't even watch the ridiculous poker tourneys on TV, even in the offseason when that and a spelling bee suddenly become "sports" to ESPN...

(I do pause for the women's fitness and college cheerleading competitions, though, so shatter my windows if you must!!) ;)
Wha make you tink I won cutchu, mang?!?

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