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Steelers ownership transition moves forward

Posted Sep 25, 2009

The Pittsburgh Steelers announced today that the reorganization of the club's ownership is completed.

The Pittsburgh Steelers announced today that the reorganization of the club's ownership is completed. The transition involved the sale of stock by members of the Rooney and McGinley families to Steelers President, Art Rooney II, along with a group of new shareholders. The new shareholders include a number of individuals who have previously been identified, including, James Haslam III, the Paul Family, Thomas Tull, Bruce Rauner, John Stallworth and the Varischetti Family. New members of the ownership group include: David Tepper, the Paul Sams Family, Ben Statler, and Mike Wilkins. 

A brief background of each of the new Steelers owners is included.
 
Steelers President Art Rooney II said: “I am very pleased to welcome our new owners into the Steelers Family. I am also appreciative of the efforts of all of our family members, both Rooneys and McGinleys, to help make this work. All of our partners worked to help structure this ownership transition in a way that allows for this franchise to continue to be successful on the field and in the community.”
 
Several other members of the Rooney Family will retain ownership positions in the franchise, including Art Rooney, Jr., John J. Rooney, and members of the Patrick Rooney Family. Members of the McGinley Family will also continue to own a portion of the stock, including Steelers Director Emeritus, Rita McGinley.
 
Steelers Chairman Emeritus Dan Rooney said: “This is an important transition for the future of our franchise and our fans. I think it ensures that the stability and tradition of Steelers football can continue for many years.”
 
The NFL unanimously approved these ownership changes in recent league meetings.
 
Morgan Stanley & Co. Incorporated acted as exclusive financial advisor and PNC Bank acted as lead arranger of the debt financing for this transaction.
 
Sams Family
 
* Family members include Paul (38) and Susan (38), and their children, Megan, Matthew and Michael.
 
* Family and operations based in Los Angeles.
 
* Paul is the chief operating officer of industry-leading computer-game developer and publisher, Blizzard Entertainment, Inc., serving as a key leader, spokesperson, operational expert and decision-maker for the company, in addition to providing corporate strategy for all Blizzard Entertainment ® properties. Paul, who has coached youth athletics for the past decade, holds a Bachelor of Arts degree in business economics from the University of California at Santa Barbara.
 
* Susan is an attorney dedicated to supporting the legal needs of battered women and children. Specializing in cases involving domestic violence, Susan does 100% of her work pro bono for 1736 Family Crisis Center, a non-profit Los-Angeles-based shelter organization. Susan has a Bachelor of Journalism degree from the University of Texas, an MBA from the University of Southern California and a Juris Doctorate from Whittier Law School.
 
* The Sams Family is also involved in commercial real estate as well as education-based charities and volunteer work.
 
Benjamin Statler
 
* 58 years old; native of Monongalia County (West Virginia); currently resides in Naples, Fla. and McMurray, Pa.
 
* Benjamin and his wife, Jo, have two children, Julie and Ben II, and three grandchildren.
 
* Retired coal executive and a third generation coal miner.
 
* Earned bachelor’s of science degree from West Virginia University in 1973.
 
* Began his career with Consolidation Coal, holding positions from section foreman to senior vice president of Moundsville and Ohio operations.
 
* Named vice president of mining for CONSOL in 1994.
 
* Retired from CONSOL in 1999 and formed Benjamin M. Statler LLC and, along with Questor Management Co. LLC, acquired the assets of U.S. Steel Mining to create PinnOak Resources LLC. The company was sold in 2007.
 
* In 2007, donated to West Virginia University for breast cancer care and programs in the WVU College of Engineering and Mineral Resources. For this substantial donation, Benjamin and his wife, Jo, were named Most Loyal West Virginians during Mountaineer Week.
 
* Benjamin and Jo were honored with the 2008 Outstanding Philanthropists Award for their display of exceptional generosity, commitment, leadership and proven records of outstanding civic and charitable devotion to WVU.
 
* The Statlers were awarded with the Milan Puskar Award for their extensive role in the community and Benjamin recently received an honorary doctorate degree at Commencement from West Virginia University.
 
* Member of the West Virginia University Foundation’s Board of Directors and also involved in a range of professional organizations such as the Society of Mining Engineers and the West Virginia Coal Association.
 
* Has held leadership positions in numerous organizations such as the Wheeling Area Chamber of Commerce, Wheeling Symphony Orchestra, Ohio Valley Medical Center, Upper Ohio Valley United Way, Easter Seals, Christ United Methodist Church and Boy Scouts of America.
 
David Tepper
 
* Pittsburgh native (Stanton Heights) – graduate of Peabody High School in 1975.
 
* David and his wife, Marlene, have three children.
 
* Founder of Appaloosa Management; operations based in Short Hills, N.J.
 
* Appaloosa Management is an $11 billion hedge-fund investment firm that David founded in 1993.
 
* Prior to Appaloosa Management, David worked for Goldman Sachs, Keystone Mutual Funds (now part of Evergreen Funds) in Boston and Republic Steel (Ohio).
 
* Earned bachelor of arts degree in economics with honors from the University of Pittsburgh in 1978; earned master of science in industrial administration in 1982 from Carnegie Mellon University.
 
* Member of the Board of Trustees of Carnegie Mellon and is on the Tepper Business School Board of Advisors.
 
* Charitable interests include the Phoenix House, United Jewish Appeal, University of Pittsburgh, Greater Pittsburgh Community Food Bank, and the Community Food Bank of New Jersey, as well as many other food pantries, soup kitchens and shelters in New Jersey and the Pittsburgh region.
 
Mike Wilkins
 
* Based in San Francisco, Calif.; investment advisor
 
James Haslam III
 
* 54 years old; based in Knoxville, Tennessee
 
* President of Pilot Travel Centers, the nation’s largest retail operator of travel centers and truckstops.
 
* Pilot is headquartered in Knoxville, Tennessee, and has 13,000 employees across the country.
 
* Pilot operates more than 300 retail facilities in 41 states featuring nationally recognized fast food restaurants such as Subway, Wendy’s, Arby’s, Taco Bell, Denny’s and McDonald’s.
 
* Pilot also owns and operates 40 convenience stores in the Knoxville, Tennessee area.
 
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.
 
* Family members sit on numerous not-for-profit boards, including Cornell University, University of Pittsburgh, UPMC (western PA medical system), Harvard Medical School, the American Red Cross and The Loomis Chaffee School.
 
* Member on Board of Pittsburgh Branch of Federal Reserve Bank of Cleveland.
 
Bruce V. Rauner
 
* 53 years old; based in Chicago, Illinois
 
* Chairman of GTCR Golder Rauner, LLC, a venture capital and private equity firm.
 
* GTCR forms and finances companies in partnership with outstanding executives whose goal is to build market-leading businesses over time through strategic acquisitions as well as through disciplined internal growth.
 
* Member of the board of directors for a number of public and privately held companies nationally and serves on the boards of civic and philanthropic organizations around Chicago, including the Renaissance Schools Fund.
 
* Provided major funding for the construction of the Rauner Special Collections Library at Dartmouth College and has endowed and funded programs at Dartmouth College, Morehouse College, University of Chicago, Harvard Business School and University of Illinois.
 
* Works with the Nature Conservancy and Montana Land Reliance to preserve ranch land and wildlife habitat in Montana and received the Murie-Broome Award from The Wilderness Society for outstanding work in wilderness preservation.
 
* Chicago native who received a B.A. degree in economics, summa cum laude and Phi Beta Kappa from Dartmouth College and an M.B.A. from Harvard University.
 
John Stallworth
 
* 56 years old; based in Huntsville, Alabama
 
* Played 14 seasons with the Pittsburgh Steelers and was a member of four Super Bowl championship teams. He earned four trips to the Pro Bowl and was inducted into the Pro Football Hall of Fame in 2002.
 
* Current partner at Genesis II, a family business office created in 2006 to enhance the partner’s philanthropic support efforts, investments and related business interests.
 
* Serves as Chairman, Board of Directors for the John Stallworth Foundation, a non-profit organization he founded in 1984 to provide scholarships to students attending his alma mater, Alabama A&M University.
 
* Served as President and CEO of Madison Research Corporation (MRC) before selling the company and retiring in 2006. MRC is a technology and government contracting corporation in Huntsville, Ala., with operations in South Carolina, Georgia, Texas, Florida, Tennessee and Washington D.C.
 
* Earned his B.S. in Business Administration (Management) and his M.B.A. in Business Administration (Finance) from Alabama A&M University.
 
* Serves on the Board of Directors for many organizations, including Crestwood Medical Center, First Commercial Bank, Big Spring Partners, Alabama Sports Hall of Fame and the Huntsville Botanical Garden Foundation.
 
* Married (Flo) with two children (John, Jr. and Natasha) and four grandchildren (John III, Jacob, Julia and Taylor).
 
Thomas Tull
 
* 38 years old; based in Los Angeles
 
* Chairman/CEO of film production company, Legendary Pictures; joined with Warner Bros. to co-produce and co-finance films such as “The Dark Knight”, “300”, “Batman Begins”, “We Are Marshall”, “Superman Returns” and “Watchmen”.
 
* Member of Board of Trustees of the American Film Institute (AFI).
 
* Board member of the San Diego Zoo and serves on the Foundation Board of the Zoological Society of San Diego.
 
Varischetti Family
 
* Operations headquartered in Brockway, Pa.
 
* Family has substantial involvement in many businesses, including Guardian Elder Care Holdings, Inc.; Varischetti & Sons, Inc.; Phoenix Sintered Metals, Inc.; and Apple Tractor, Inc.
 
* All companies combined have over 2,000 employees.
 
* Family very active in community projects through the Frank Varischetti Foundation, which primarily serves the Brockway and DuBois areas.
 
* Guardian Elder Care Holdings, Inc. has 23 nursing facilities, including 20 in Pennsylvania, two in Ohio and one in West Virginia. The company was originated in 1995. Guardian also owns a long-term care pharmacy, a rehabilitation services company and a home health care company.
 
* Varischetti & Sons, Inc. owns and manages commercial real estate in Pennsylvania and New York and provides consultation services to the waste industry. The company’s interest also includes VSI Racing, which competes on the Nationwide Series.
 
* Phoenix Sintered Metals, Inc. is a manufacturer of powder metal parts serving many different industries, including Outdoor Power Equipment, Sporting Goods, Hydraulic/Fluid Power, Automotive, Recreational Vehicles, Food Service and Medical. The company is a consolidation of assets from four local manufacturing plants in one central location in Brockway.
 
* Apple Tractor, Inc. is a major supplier of quality machinery for the construction and mining industries, selling, renting and buying new and used equipment such as tractors, excavators, wheel loaders, crawler loaders, backhoes, articulated trucks and hydraulic hammers.
 
* The Varischetti business history dates back to the 1960’s when the late Frank Varischetti built Varischetti Sanitation into one of the largest independently owned sanitation companies in Pennsylvania.

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