Report: Steelers Minority Owners Selling Stake in Team
PITTSBURGH -- The Pittsburgh Steelers ownership group could look different soon, according to a report from Bloomberg's Gillian Tan.
She reports that minority owners Josh Harris and David Blitzer are the process of finishing a deal that would sell their stake in the team to an investor group led by Art Rooney II and Thomas Tull.
"The transaction, which requires approval from the National Football League, may be finalized in the coming months, said the people, all of whom requested anonymity discussing confidential information.," Tan wrote. "Financial terms couldn't be immediately learned."
Harris and Blitzer already own stake in another NFL team. They were part of the group that bought the Washington Commanders last summer. That move meant they both must sell their stake in the Steelers, because NFL rules dictate that no one can own shares in multiple franchises when they own the majority stake of at least one team.
Harris and Blitzer own less than 5% of the Commanders and were given a grace period by the NFL to find a buyer for their Steelers shares.
Tan reported last August that Tull, who made his fortune as the founder of the movie studio, Legendary Entertainment, been eying a larger share of the Steelers since Harris and Blitzer began shopping for a bidder and now he finally gets his wish.
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