Report: Steelers owners offload team ownership

Pittsburgh There may be a change coming for the Pittsburgh Steelers ownership group, per a story by Bloomberg’s Gillian Tan. According to her, a plan to sell minority owners Josh Harris and David Blitzer’s ownership of the team to a group of investors headed by Art Rooney II and Thomas Tull is nearing completion. “The transaction, which requires approval from the National Football League, may be finalised in the coming months, said the people, all of whom requested anonymity discussing confidential information.,” said Tan. “Financial terms couldn’t be immediately learned.”

Blitzer and Harris already have ownership in another NFL team. They were a member of the team that purchased the Washington Commanders in the previous summer. Due to NFL regulations prohibiting owners of the majority investment in at least one team from owning shares in multiple teams, they were both forced to sell their position in the Steelers as a result of that transaction. The NFL granted Harris and Blitzer a grace period to locate a buyer for their Steelers shares, and they currently possess fewer than 5% of the Commanders. Tan revealed in August of last year that Tull, who amassed his wealth as the creator of Legendary Entertainment, a film studio, had been vying for a bigger stake in the Steelers ever since Harris and Blitzer started looking for a bidder.

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