PITTSBURGH -- The billionaire is out, and the Pittsburgh Steelers are staying in the family, at least for now.

Telling WTAE Channel 4's news exchange partners at the Pittsburgh Tribune-Review that he only wanted to be a "solution, never a distraction," Stanley Druckenmiller dropped his bid to buy a majority share from Rooney brothers Tim, Patrick, John and Art Jr.

Older brother Dan, who is the Steelers' chairman and wants to add the family's shares to his own 16 percent stake, issued an official statement on behalf of himself, and his son, Steelers president Art Rooney II, on Friday.

In a written statement, Dan and Art II said, "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. We have been told on many occasions the other family members prefer to keep the franchise in the family. We look forward to ongoing dialogue within the family toward that goal."

They went on to add, "We are grateful for the support we have received from many family members as well as those who have offered to become our partners. We hope that further discussions can remain cordial and private, and not become a distraction during the football season."

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Though the four Rooneys have an offer on the table from Dan, they may still try to seek an outside third party in hopes of getting a better deal. The investment firm Goldman Sachs is giving them financial guidance.

Dan Rooney, along with his son, Art II, are trying to buy the brothers' 64 percent stake in order to keep a majority ownership. Under National Football League rules, the four brothers must sell if they want to continue owning their outside gambling and racetrack interests.

Druckenmiller released the following statement to the Trib:

"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."

Earlier Thursday, Art Rooney Jr. told The Associated Press that he expects the family to decide soon on a deal to sell the team.

A sale would have to be approved by the owners of at least 24 of the NFL's 32 teams.

"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," Druckenmiller said in his 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 had in the past. Go Steelers!"

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