PITTSBURGH -- Dan Rooney will be the new majority owner of the Pittsburgh Steelers -- keeping the legendary franchise founded by his father in the family -- now that National Football League owners have voted in favor of his buying out his brothers.

The vote was unanimous at an owners meeting in Dallas Wednesday, acting on the recommendation of the league's finance committee, which had backed the deal earlier this week.

"We are obviously very pleased to be keeping the Steelers' ownership within the Rooney family and are appreciative of our fellow NFL owners' support. Today's vote ensures that the Rooney family will be associated with the Pittsburgh Steelers and the NFL for a very long time," Rooney said.
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Watch the report from WTAE Channel 4's Andrew Stockey

Rooney and his son, Art Rooney II, will now control 30 percent of the team.

Pat and Tim Rooney will each sell their entire 16 percent shares and continue to operate outside businesses that conflict with NFL rules.

Dan Rooney's two other brothers -- John and Art Jr. -- will each sell 8 percent and retain 8 percent.

And the Jack McGinley family, who are cousins to Dan Rooney and his brothers, will sell some of their 20 percent stake in the team.

New partners in the deal include James Haslam of Knoxville, Tenn., Thomas Tull of Los Angeles, and the Paul family, which is based in Pittsburgh and also Los Angeles.

"We are looking forward to completing the remaining details of this transaction in early 2009. We are grateful that we will be able to make the ownership transition stay within the family with the help of three new partners -- Thomas Tull, James Haslam III and the Paul family," said Art Rooney II.

The agreement among the Rooney family calls for a closing to happen before March 31, 2009.

New Partners

James Haslam III

54 years old, based in Knoxville, Tenn.

President of Pilot Travel Centers, which has 13,000 employees, and is the nation's largest retail operator of travel centers and truck stops.

Pilot operates more than 300 retail facilities in 41 states featuring several fast food restaurants.

Thomas Tull

38 years old, based in Los Angeles

Chairman/CEO of film production company Legendary Pictures; joined with Warner Bros. to co-produce films such as "The Dark Knight," "Batman Begins," Superman Returns," "300," "We Are Marshall," and the upcoming "Watchmen."

Member of Board of Trustees of the American Film Institute (AFI).

Paul Family

Family members include Donna and Robert Paul, and their children, Larry Paul (44), Stephen Paul (41) and Karen Zimmer (39).

Operations based in Pittsburgh and Los Angeles.

Family has had substantial involvement in many businesses including Ampco-Pittsburgh (NYSE-listed metal fabricator located in Pittsburgh), TV and radio stations, cable and cellular phone operations, banking, snow and ice removal equipment (Meyer Products and Swensen Spreaders), restaurants (Morton's Restaurant Group), fitness facilities (Urban Active Fitness) and real estate development.

Why The Sale?

Restructuring of the Steelers' ownership is required under NFL rules, which state that one person must own at least 30 percent of a team. Currently, Dan Rooney owns the same 16 percent stake as each of his four brothers.

Also, Pat and Tim Rooney own racetracks in New York and Florida that allow forms of gambling that are not allowed by the NFL.

Ironically, the Rooneys' father, Art Sr., used winnings from a horse race to start the team. The five sons acquired their shares when he died in 1988, and the McGinleys bought in when he briefly sold the team in 1941 before regaining it later that year.

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