A deal could be reached within days to sell a majority interest in the Pittsburgh Steelers to the chairman of a Pittsburgh-based investment firm, taking control of the NFL franchise away from the Rooney family.
The shares would be sold to Stanley Druckenmiller, chairman of Duquesne Capital management, making him principal owner of the team. Two officials familiar with the talks identified the buyer as Druckenmiller and said Monday that the deal could be completed by the end of the week. They declined to be identified because they were not directly involved in negotiations.
Druckenmiller's interest was first reported Monday by The Wall Street Journal, which said a secret study by Goldman Sachs valued the franchise at between $800 million and $1.2 billion.
VICK FILES FOR BANKRUPTCY: Imprisoned quarterback Michael Vick filed for bankruptcy protection while serving time for federal dogfighting charges, saying he owes between $10 million and $50 million to creditors.
Vick filed Chapter 11 papers in U.S. Bankruptcy Court in Newport News on Monday. The seven largest creditors listed in the court papers are owed a total of about $12.8 million.
The suspended Atlanta Falcons quarterback hopes he "can, after the conclusion of the bankruptcy case, rebuild his life on a personal and spiritual level," according to the filings.