NFL policy has Rooney brothers looking to sell Steelers shares

A National Football League guideline that prohibits association with racetrack and gambling interests reportedly has Yonkers Raceway president Tim Rooney and his brothers, Patrick and John, looking to sell their shares in the Pittsburgh Steelers. Patrick Rooney is CEO of the Palm Beach Kennel Club in Florida.

A story in Tuesday’s Pittsburgh Post-Gazette stated the Steelers have been attempting to restructure its ownership group since Yonkers added video gaming machines in 2006. Former NFL commissioner Paul Tagliabue has been consulting with the five Rooney brothers—Dan, Art Jr., Tim, Patrick and John—as to such a move. Each Rooney brother owns 16 percent of the team, with the family of the late John McGinley Sr. and his sister, Rita, owning the other 20 percent.

John McGinley Sr. was married to the sister of Art Rooney Sr., who purchased the Steelers in 1933 for $2,500. He purchased the Palm Kennel Greyhound track in 1970 and Yonkers Raceway in 1971.

The Post-Gazette reported that billionaire Stanley Druckenmiller, chairman of Pittsburgh’s Duquesne Capital Management, is interested in purchasing the shares held by Tim, Patrick and John Rooney if they do not sell to their siblings. Dan Rooney’s son, Art II, is the Steelers’ president. Dan Rooney said he wants to continue to be a part of the Steelers and that his brothers want to concentrate on the racetracks.

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