Posted on 07/13/2008 2:25:51 PM PDT by nateriver
It's becoming increasingly clear that the Rooney family is selling the Pittsburgh Steelers to avoid having to pay the death tax.
(Excerpt) Read more at americanshareholders.org ...
Then why the hell did Rooney endorse Obama?
A**hat.
>:(
Maybe this is one instance when Rush might appreciate the Death Tax....I wonder what the asking price is...
Crazy. Wasn’t Rooney already taxed on the $ he used to buy the Steelers? Death tax sucks. Guess it’s here to stay though.
He endorsed Obama? The fool. He’s getting what’s coming to him.
No, he’s bailing out before Ubingobangobongo gets anywhere near the White House.
http://kdka.com/local/Dan.Rooney.Obama.2.699251.html
The buyer is moving the team to Los Angeles and renaming it.
They can do whatever the hell they want with the team as long as they reimburse taxpayers for the new stadiums built because Three Rivers wasn’t good enough for the spoiled *)(&#%)#&%)
And the half-billion dollar ‘Subway to Nowhere” connecting downtown with the stadiums.
Are they going to change the name to Stealers?
I bet Rush will buy them.
There’s a little more to it than that. A couple of the Rooney brothers want to sell their shares. I wouldn’t be suprised it they bought into the new casino in Pittsburgh-(Rendell’s pick for a license-Barden-can’t raise the money to build the casino and is backing out). I wouldn’t be suprised to see the Rooneys working behind the to purchase Barden’s share or interest in the casino project. If they do the NFL will come down hard on the Rooney family for owning a gambling “concern”-the NFL already has their panties in a bunch about the horse racing connections that the Rooney’s have.
FairTax ping
This is not a new situation. My beloved Miami Dolphins were forced to be sold off from the Robbie family in order to pay the death taxes when Joe Robbie died. I believe the stadium formerly known as Joe Robbie Stadium was the last privately developed stadium in the league. He never bent the city and taxpayers over for his stadium.
The fins have been a shadow of their former selves since Wayne Huizenga bought them from the Robbie family.
No one is going to feel sorry for the owners of the Pittsburg Steelers. But for the owners of family farms, small businesses, timberland and other assets the death tax is a thief of the lowest order.
NO!!!!
We taxpayers can’t afford the fines the NFL is going to levy on him!
Besides Dan Rooney, there are other Rooneys that own a minority part of the Steelers. In addition, Dan and the other Rooneys own part of a gaming/gambling operation, that the NFL is not too excited about. It is my understanding that the non-Dan Rooney contingent wants the gaming/gambling component and their portion of the team. This amount is rumored to be approximately $300 - $400 million, with Dan Rooney controlling the rest ($800+ million). Dan runs the football operation and the team, while worth a lot, doesn't throw off enough cash for the other Rooneys. So again, some of this is related to death taxes, but I think there is more to the story. Not trying to rain on the tax part, it is clearly a component, but the other members of the family want their share.
http://sports.espn.go.com/nfl/news/story?id=3477065
"In a statement Monday, the team said some of Dan Rooney's four brothers want to focus their business efforts on racetracks and other nonfootball interests. The brothers -- Art Jr., Timothy, Patrick and John -- all own an interest in the team, as does another related family, the McGinleys, although it has only a small stake in the 75-year-old franchise."
That would be great! It’s a shame we couldn’t get them to take the Cardinals.
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