St. Louis Business Execs Stay Quiet On Rams Stadium Temporary Tarp Place Over Roof At U.S. Open Dolphins Unveil Sun Life Stadium Renovations Louisville Announces Stadium Expansion Plan Lexus Gets Dallas Arena's Platinum Level Name DraftKings Inks Deals With Cowboys, Chiefs, Pats University Plans Threaten Downtown Cincy Project Raiders Move Into New Training Facility Iowa State Completes South End Zone Renovations Florida Close On O'Connell Center Financing
SBD/Issue 222/Facilities & Venues
Steelers Gain Land Near Heinz Field; Hotel, Venue Planned
Published August 7, 2008
|Steelers Gain Land Near Heinz
Field For Entertainment Development
MONEY MAN: A source said that Pittsburgh-based Duquesne Capital Management Chair Stanley Druckenmiller "remains optimistic a deal will be worked out where he will gain majority stock control of the Steelers' franchise." The source added that Druckenmiller is "eager and ready to proceed with a purchase plan that is 'simple and uncomplicated' and would greatly benefit the long-term financial health of the franchise." The source added that the plan is "uncomplicated" because Druckenmiller "would buy out the four Rooney brothers in a straight cash deal that would be paid immediately and not over any period of time." The source said that the deal "would allow the Steelers -- if Druckenmiller becomes majority stock owner -- to operate without any debt or interest payments and enable the team to spend the necessary money to remain competitive in the NFL" (PITTSBURGH POST-GAZETTE, 8/7).