View topic - 3 new partners for Steelers approved

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Ed Bouchette, of the Pittsburgh Post-Gazette, reports NFL owners approved three new partners for the Pittsburgh Steelers Monday, March 23. Hall of Fame WR John Stallworth, who is also the president and CEO of Genesis II, is one of the new partners. Bruce V. Rauner, chairman of GTCR Golder Rauner, and the Varischetti family were the other two partners approved Monday. Team president Art Rooney II said two or three more partners could be added by May.

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NFL owners on Monday approved the Steelers' plan to take on three more partners, including Hall of Fame WR John Stallworth, in the club's ownership transition.

Stallworth, the president and CEO of Genesis II, a philanthropic organization, previously served as the president and CEO of Madison Research Corporation, a technology and government contracting firm. He sold the company in 2006. The 56-year-old Stallworth played 14 seasons with the Steelers.

Joining Stallworth as owners are Bruce V. Rauner, 53, chairman of GTCR Golder Rauner LLC, a Chicago-based venture capital and private equity firm; and the Varischetti family of Brockway, Pa., which operates commercial real estate, machinery, metal and nursing-home businesses.

The Steelers are restructuring their ownership to come into compliance with NFL rules. In December, Dan Rooney and son Art Rooney II brought on three other new partners: James Haslam III, the president of Pilot Travel Centers; the Paul family, which owns businesses in Pittsburgh and Los Angeles; and Thomas Tull, the chairman and chief executive officer of Legendary Pictures.

With Stallworth, Rauner and the Varischetti family agreeing to buy stakes in the team, the proposed restructuring of the Steelers' ownership will close in May, not by the end of March as previously planned.