Anyone Know What the Rooney's Are Worth?

I was wondering what the Rooney family was actually worth. I found this https://www.forbes.com/profile/rooney/ and some other stuff that indicates they are at the low end of the NFL ownership net wealth ladder.

Basically, there are some franchises like the Steelers, Giants, Bears, etc that have families whose primary source of wealth is owning the team. And they have the shallowest pockets of all the ownership groups.

I am GUESSING that means that the Rooneys don't have billions in liquid cash laying around. Againg, GUESSING HERE, but I get the impression that they are using the revenue from year 1 to pay operating costs in year 2. And so on.

What is my point? I wonder if the lack of facilities and perks in those NFLPA surveys, the rarity of firing coaches under contract, the "small(er)" coaching staffs, etc. are related to the Rooney's not having like tens and tens of billions of family cash reserves to throw around?

I am not saying that we should take up a collection for them or anything....but I have to wonder if they are operating under a different financial picture than the owners that are just inconceivably wealthy?

 

You are correct

Mr Rooney’s net worth is basically his 16% share of the team. He was not a billionaire who went out and bought a team.

Brice and an assortment of knucklheads have called him cheap for not building his own stadium and this is foolishness. New stadiums cost in excess of $1B now. Exactly how would he pay for that on his cut of the profit from what the team earns.

I read somewhere that the team earned $127 M a year or two ago. Tax that at the corporate rate and then again at his personal rate and figure 16% share and he is making roughly $10M a year. Not chump change but in this day and age not extremely high income.

 

Oh great, the team is going to sold to Idaho

 

Potato -, Pototo

 

He needs to sell the team to someone who want's rings as an objective.

 

I'd imagine that this will be hugely unpopular, but as a Steelers fan who grew up in Canada and became a fan because of the players and the playing style...I don't particularly care where the stadium is.

If I was a PA resident, I'd be strongly against subsidizing the NFL teams in the state for building their stadiums.

I believe every time it's studied (e.g., in lockouts), it's found that sports teams don't increase the net economic activity in a region. They only change what people spend money on.

The state that I live in recently caved to "ransom demands" by one of the NFL teams in the state to build a stadium. And I think it's a huge waste of money.

 

I think that revitalizing nonsense started because of Camden Yards in Baltimore. I think the stadium did have a significant positive impact on downtown Baltimore. Now, it could be argued that, at that time, building ANYTHING that wasn’t a crack house in downtown Baltimore would’ve spurred economic development but nevertheless the “Camden Yards Effect “ was born.

Taxpayers have been paying through the nose in vain attempts te duplicate the feat.

 

the fn atm ruined one of the best venues for live shows
fk bmore
fk ravens

 

In my world, anyone making 10 million a year would qualify as "extremely wealthy".

I understand what you're saying though, Rooney is "poor" compared to other NFL owners like Rob Walton, Lamar Hunt, and David Tepper.

 

As another non-local fan, I don't know if I'd have the same support for the black and gold Idaho Steelers. If I'd become a Raiders fan when I started watching then you know that hopping from city to city is part of who that team is, but the identity of the Steelers rooted in the city.

 

Art Rooney owns 1/6th of a 6 billion dollar franchise, he's extremely wealthy.

 

Asset rich cash poor