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Lynn Swann A Potential Co-Owner Of Pittsburgh Arena League Franchise

Hall of Fame receiver John Stallworth earlier this year became a minority owner of the team with which he spent his entire career — the Pittsburgh Steelers.
His teammate, Hall of Fame receiver Lynn Swann, could soon be a partial owner of a new franchise in the Arena Football League.
Internal documents obtained by PFT reveal that Swann and former U.S. Senator Rick Santorum are two potential investors/owners of an indoor team that would debut next year in Pittsburgh. 
The lead owner would be Matt Shaner, the president of Shaner Investments of State College, Pennsylvania.  Shaner, who like Swann and Santorum has run for political office in Pennsylvania as a Republican, would own 20 to 40 percent of the franchise.
The discussions have been characterized to other AFL owners as being in the “advanced stages.”  The expansion fee would be $10 million, with half of the money paid in 2010 and the other half paid in 2011.
The addition of a Pittsburgh franchise would be a key part of the relaunch/recapitalization of the defunct (for 2009) pro football operation.  If the current plan passes, the AFL would shift to a centralized business model, with the league being run as a single company and team owners acquiring a percentage of the equity. 
Expansion in Pittsburgh is part of a broader goal to grow the league to 24 total teams over a five year period, with two teams joining in 2011, two in 2012, two in 2013, and two in 2014.
For 2010, another $10 million in capital ideally would come from the same of 20 investment units of $500,000 each.
Under the currently-proposed plan, the AFL still expects to operate in the red through 2012, with a $2 million profit being generated in 2013 and a $6 million profit projected for 2014.

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7 Responses to “Lynn Swann A Potential Co-Owner Of Pittsburgh Arena League Franchise”
  1. Ron Burgandy says: May 26, 2009 3:05 PM

    No way arena football will do well in Pittsburgh. The love and obsession of the Steelers won’t allow it. It’s like watching Michael Jordan’s son playing basketball. Why care when you can watch highlights of MJ on youtube. Steeler/pittsburgh football fans just won’t care. Ask the Pirates.

  2. dashoe says: May 26, 2009 3:26 PM

    Geez. It’s time to put an end to the ADD football league. Maybe they should put their money, time, and influence into a league where real football is played like a farm league for the NFL.
    Arena league football is for the X-Gamers crowd and they aren’t into any sport that doesn’t involve wheels or blades.

  3. Pea Tear Griffin says: May 26, 2009 3:44 PM

    Sweet. I just went to an AF2 game this weekend. It’s actually a lot of fun and you don’t have to mortgage you’re house to go.

  4. zertrat says: May 26, 2009 6:54 PM

    Hey, not too bad for Swannie. If you can’t be governor or senator or king, or hero for life, then you can be a fraction of ownership in something local. I’m not being facetious. Glad he found where his ideals can really make a difference. Oops, i forgot. He’s trying to make money.

  5. KGleits says: May 26, 2009 8:11 PM

    State College!!!

  6. DonD says: May 27, 2009 2:24 PM

    Arena Football is incredible football. It’s not right to insult that version. The difference in the game from the outdoor version doesn’t diminsh the game of football. I like Arena football more than the outdoor game. I am far past a Gen-Xer or whatever, and I hardly ever missed an AFL game. I hope the league returns and I wish my NFL brothers (and sisters) would give the Arena game the respect that it and the players deserve. The NFL should actually buy into and run the AFL game. The connection would be perfect. It’s already there anyway.

  7. Fez says: May 27, 2009 5:53 PM

    Finally. After 20 years, the Pittsburgh Gladiators are back! I just hope Swann does a better job with his team than he did with his race for Governor.

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