I'm not a huge sports fan, but I do know all the rules, have some knowledge of the players, and enjoy the big games (thanks to my dad and brother). The Steelers have made it to the Super Bowl once again, and they are undeniably a very special franchise.
Take for example, the number of Steelers' bars outside of Pittsburgh--3000 miles away in San Francisco, there are at least two, and they are packed, body to body, for every game. Pittsburghers love their team and their players, but even people who have no association with the city have sentimental feelings towards the Steelers.
The keen eye of an MBA student should notice that this is more than just a beloved sports team...it's an incredible business proposition. If management, employees, shareholders, and towns were as devoted to their companies as they are to their sports teams, they would crush the competition every time.
One of the things my dad writes about in his book (which will be available soon) is that fragmented ownership can be disastrous for a company. In other words, managers must be accountable to someone who has access to information and has the best interest of the company at heart. Over the years, the Steelers have had the kind of devoted ownership that has served the team and the community. The owners instilled a sense of dedication that has inspired coaches, players and fans alike. Even the fickle media loves the Steelers.
In a horrendous economy, Dan Rooney and his son, Art, negotiated a deal to bring on new investors that would enable the family to maintain ownership of the Steelers. At a time when other owners would have sold out, the Rooney's seemed to understand the meaning of devoted ownership. In Pittsburgh, after all, football is not just a game; it's a way of life.
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