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Jay Z looking to buy 5% ownership stake?

Tibs

Tibs

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I've read for over a week now Jay Z is on the cusp of becoming partial owner of NFL team. This is the first I've seen that it's the Steelers he's looking to invest in.

Let's consider this a rumor for now, as I haven't seen this reported elsewhere. Just thought I'd post it to see if any of you locals have heard something. Wouldn't be a huge shocker, as they've had Hollywood producers et al be minority owners, and Jay Z has experience in the field, owning a piece of the Brooklyn Nets.


Jay Z To Buy Minority Interest NFL's Pittsburgh Steelers
https://mtonews.com/jay-z-to-buy-minority-interest-nfls-pittsburgh-steelers

Shawn "Jay Z" Carter will be the largest percentage African American owner a football team owner, MTO News has learned. The 49 year old billionaire is in the midst of purchasing approximately a 5% interest in the Pittsburgh Steelers.

We spoke with two people close to the deal who told us that Jigga is in the final stages of buying the ownership rights to the Pittsburgh Steelers. The Pittsburgh Steelers will still be majority owned by the Rooney Family - led by Art Rooney II - but Jay will now have input into the NFL.

And the greatest rapper is paying a steep price for that ownership. MTO News has learned that Jay is paying somewhere between $100 and $200M for the interest in the team.

He's buying his interest directly from the Steelers. The 5% interest, used to belong to David Tepper, but he was no longer able to be a minority shareholder in the Pittsburgh Steelers ownership group, once he bought the Carolina Panthers.

The Steelers ownership group currently consists of 18 owners, including five members of the Rooney Family (who own the majority of the team). The most noteworthy non-Rooney ownership members are former Steelers wide receiver John Stallworth and entertainment executive Thomas Tull.

According to a person close to the situation, Jay Z has already gone through the vetting process, and the other NFL owners gave him the thumbs up. So the deal is all but done.
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Oh, good.
 
slashsteel said:
Is he a Steelers fan?

Sent from my moto g(7) power using Steeler Nation mobile app
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No, he's a money fan. And he is smart to buy into a team like the Steelers as opposed to say, the Cardinals.

This is a non-story really, as he will have little to no decision making authority. It's a money thing for both parties, really. If he wasn't a famous entertainer and was instead a hedge fund manager, the only place this would be news is in Pittsburgh.
 
Sarge said:
No, he's a money fan. And he is smart to buy into a team like the Steelers as opposed to say, the Cardinals.

This is a non-story really, as he will have little to no decision making authority. It's a money thing for both parties, really. If he wasn't a famous entertainer and was instead a hedge fund manager, the only place this would be news is in Pittsburgh.
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I get your gist but don't sell the fans short because any news of the STEELERS, tends to be WORLD WIDE.!




Salute the nation
 
Sarge said:
This is a non-story really, as he will have little to no decision making authority.
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Just watch, the Steelers will trade Dobbs for a sixth, put Hodges on the practice squad and sign Kaepernick to be their back-up to Ben. This board will be lit. ;)
 
Tibs said:
Just watch, the Steelers will trade Dobbs for a sixth, put Hodges on the practice squad and sign Kaepernick to be their back-up to Ben. This board will be lit. ;)
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Tibs,..... are you lit.?





Salute the nation
 
Tibs said:
Just watch, the Steelers will trade Dobbs for a sixth, put Hodges on the practice squad and sign Kaepernick to be their back-up to Ben. This board will be lit. ;)
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I know what you are saying is partially tongue in cheek, but I can't see any scenario where the Steelers would bring that type of disruption to the team. They just got rid of two enormous distractions. Can't see them actively seeking another.

On the other hand, this team did go get Michael Vick, so anything is possible I guess.
 
Kinda funny, but he's the worst rapper ever.
 
Sarge said:
No, he's a money fan. And he is smart to buy into a team like the Steelers as opposed to say, the Cardinals.

This is a non-story really, as he will have little to no decision making authority. It's a money thing for both parties, really. If he wasn't a famous entertainer and was instead a hedge fund manager, the only place this would be news is in Pittsburgh.
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Onto the next one
 
Another billionaire who happens to be one of the most well-known artists and owns a sports agency. Not a bad guy to have on your ownership team.
 
Steelin said:
I hope not.
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Hey, the fact that he said "when we are in it" is all I needed to hear! The rest is all just outside noise, lol. So if he wants to perform, I'll be off eating wings n'at and hopefully just back in time for the start of the second half.
 
mightyguru said:
Kinda funny, but he's the worst rapper ever.
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Have you ever heard this new up and moving artist.............LeMEon BELL ?




Salute the nation
 
SteelerFan448 said:
Another billionaire who happens to be one of the most well-known artists and owns a sports agency. Not a bad guy to have on your ownership team.
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If he is really investing to buy the 5%, he will have to sell his Sports Agency. Conflict of interest. Can't be a part owner and a agent to your subordinates.
 
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