Weak economy may hurt NFL prices, but demand remains

By Ben Klayman - Analysis

CHICAGO (Reuters) - After decades of gridiron greatness and five Super Bowl titles, the owners of the Pittsburgh Steelers U.S. football team are in a formation that could result in a major score with a record selling price.

Despite the weak U.S. economy, demand to buy North American sports franchises remains strong and suitors would likely line up to get a piece of the Steelers, which family members are arguing over, bankers and academics said on Tuesday.

Concerns over the tight credit market could affect billionaires' finances, especially when paired with a May decision by owners to reopen player labor talks in order to cut costs.

"It may impact price a little bit, but any time you buy a sports team there is a high degree of uncertainty," said one banker, who asked not to be identified. "That's just sort of the nature of the beast.

"The (tight credit) markets would really impact financing more than anything else," the banker added. "Debt's going to be a little bit more expensive."

Such talk has been spurred by the brewing family battle over the future of the Steelers, one of the original teams in the U.S. league. It has been owned by the Rooney family since Art Rooney Sr. started the club as the Pittsburgh Pirates in 1933.

Steelers Chairman Dan Rooney took the unusual step of revealing he and his son are arranging a financing plan to buy out Dan Rooney's brothers' shares and still maintain family ownership in the team.

Some of Dan Rooney's brothers want to sell their shares to concentrate their business efforts on their racetracks and other interests, but there has been disagreement on the price. The Wall Street Journal reported the Steelers have been secretly shopped to potential buyers amid family divisions.