Wills, Trusts & Estates Prof Blog

Editor: Gerry W. Beyer
Texas Tech Univ. School of Law

Monday, December 29, 2008

Steeler Update

SteelersEarlier on this blog, I discussed the considerable family and business strife involved with the Pittsburgh Steelers professional football team.

Here are some recent developments according to AP, NFL OKs Steelers restructuring, SI.com, Dec. 17, 2008:

  • Dan Rooney and his son will own 30% of the team.  This reduction in ownership will meet the NFL's requirement that not too much control be in one family.
  • Other family members with gambling connections have agreed to sell their shares.
  • Yet other family members and owners are adjusting the amount of their ownership.
  • "The NFL approved three new partners for the Steelers during the meeting: James Haslman III of Knoxville, Tenn., Thomas Tull of Los Angeles, and the Paul family based in Pittsburgh and Los Angeles."
  • "The agreement among the Rooney family calls for the deal to be closed by March 31," 2009.

Special thanks to Sara Hudman (May 2008 J.D., Texas Tech University School of Law) for bringing this article to my attention.

https://lawprofessors.typepad.com/trusts_estates_prof/2008/12/steeler-update.html

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