In a statement of ownership transaction released by the team, Jimmy Haslam III’s minority ownership stake in the Pittsburgh Steelers has officially been sold.
The Steelers that in a series of transactions approved by the NFL all of the Steelers stock owned by Haslam has been acquired, the majority of which was purchased by existing Steelers stockholders while the residual portion was purchased by members of the Swank Family, Scott and Russ Swank.
In October of 2012, Mr. Haslam purchased the Cleveland Browns, thus disassociating himself from all Steelers business at that time and authorized Steelers President Art Rooney, II and Morgan Stanley to arrange for the purchase of the Steelers stock owned.
Steelers President Art Rooney, II said, “We appreciate the continued confidence of our Ownership group involving this purchase of stock owned by Jimmy Haslam, and we welcome Scott and Russ Swank to our Ownership group.”
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