On a day when the four Rooney brothers officially announced Wall Street investment bank Goldman Sachs & Co. as the financial adviser for the possible sale of their ownership stake in the Steelers, Dan Rooney and his son, Art II, began lining up "names you will recognize" to be part of a financial partnership that they hope will help them gain majority control of the National Football League franchise.

And here's a twist: One of the persons with whom they have had discussions is none other than billionaire investor Stanley Druckenmiller -- the same person who is seeking to buy the shares of the other four Rooney brothers and become majority owner of the Steelers.

According to a source who has intimate knowledge of the situation, the Steelers are working with two investment banks -- Morgan Stanley in New York and PNC Bank, Downtown -- and are compiling a team of investors to buy all, or even a portion, of the shares owned by the other four Rooney brothers -- Art Jr., Tim, Pat and John.

The investors, who were not identified, are people from the Pittsburgh area and other parts of the country, some of whom are "names you will recognize," according to the source.

They would help Dan Rooney, chairman of the Steelers, and Art Rooney II, the team's president, come up with a financial package that would allow them to purchase enough shares and assume majority control of the Steelers without violating the NFL's limit on debt assumption, the source said. The NFL has what is known as a "debt ceiling" of $150 million per franchise, though the league has been known to grant waivers to some teams.

It would also allow the Steelers to comply with an NFL policy that requires a team owner to have at least 30 percent controlling interest in the franchise. Right now, the Rooney family owns 80 percent of the team, with the five brothers each owning an equal share, or 16 percent.

However, the Steelers are one of several teams that have been "grandfathered" before the policy took effect because of the Rooney family's 75-year involvement with ownership.

The source also said that one of the four Rooney brothers is considering selling his entire share in the team, while the other three could sell just a portion of their share -- making it even more financially palatable for Dan Rooney to gain control of the franchise.

Speaking on a radio show that was taped Tuesday but aired last night on KQV Radio, Dan Rooney said, "What we're trying to do is get in compliance with NFL rules, that's the No. 1 thing. That includes the gambling [policy] and the 30 percent requirement. I'm doing everything I can to get us into compliance."

One of those things, ironically, is seeking the financial help of Mr. Druckenmiller, 55, chairman of Pittsburgh-based Duquesne Capital Management, which has an estimated worth of $3.5 billion. It is not known what level of involvement Mr. Druckenmiller would have with Dan Rooney, especially because he was the only investor contacted by the other four Rooney brothers in their evaluation of alternatives for their ownership shares.

But, according to the source, Dan Rooney and his son have talked to Mr. Druckenmiller, an Oakmont Country Club member, and "it's possible" he could be a part of their financing team.

Yesterday, the four Rooney brothers -- not including Dan -- confirmed they have retained Wall Street investment bank Goldman, Sachs & Co. as their financial adviser and jointly issued the following statement:

"The Rooney family name has been synonymous with Pittsburgh Steelers football for over 75 years. We hold in the highest regard the legacy of our father, Art Rooney, the founding owner of the Pittsburgh Steelers, and share enormous pride in the success of the Pittsburgh Steelers and the NFL.

"Our brother Dan has continued this legacy, and, as majority [co-] owners of the Steelers franchise, our goal is to ensure the continued success of the franchise in Pittsburgh. We echo the sentiments expressed publicly by the Steelers president that these family discussions will not have any impact on the team this season or in seasons to come and we look forward to the Rooney family's continued involvement in the franchise."

The involvement of Goldman, Sachs to "evaluate alternatives for their ownership stake" is an indication family members are open to the highest and best offers.

"Yes, [the team] is in play," said Greg Melvin, chief investment officer for Downtown money manager C.S. McKee and president of Dartmouth Capital in Wexford. "If Goldman Sachs is involved, it is in play." There is a "90 percent chance," he added, that the shares will go to the "highest bidder."

And Goldman "would call anybody they thought was interested."

Who else besides billionaire hedge fund manager Stanley Druckenmiller would want to buy a portion of the Steelers? One candidate that comes to mind is billionaire Mark Cuban, a former Pittsburgher who owns the Dallas Mavericks.

But Mr. Cuban wrote in an e-mail to the Post-Gazette yesterday that he "would not be interested."

"I think the current cap structure of the NFL, as I understand it, puts small markets at a competitive disadvantage. With the price it would sell at, I don't see that as a viable combination."

Mr. Cuban also noted that he has "not talked to anyone" regarding a possible Steelers bid.

If Mr. Druckenmiller does emerge as the buyer of certain Rooney shares, he would join a growing number of well-heeled investment managers and hedge fund operators with interests in sports franchises. One local example is billionaire Ron Burkle, part owner of the Pittsburgh Penguins and a man worth $3.5 billion, according to Forbes magazine.

Mr. Druckenmiller's net worth is currently $3.5 billion, according to Forbes, and his hedge fund manages assets valued at $4.5 billion as of March 31, 2008, according to a recent regulatory filing.

As a generator of revenue, the Steelers provide a new owner with few opportunities for growth, Mr. Melvin of C.S. McKee said. H.J. Heinz already has the naming rights to the stadium, and there is no room for more new luxury boxes, he added.

What's more, "I don't think the next TV contracts will be a whole lot better. Not a whole lot of synergies there."