 During Steadman's term as President (1976–1989), the Chiefs entered a period of decline in which they never entered the playoffs for 15 years and only had four winning seasons.In 2005, Steadman was inducted into the Chiefs Hall of Fame, the only executive other than Lamar Hunt to be honored with induction.Also in 2005, Steadman was appointed as the club's Vice Chairman of the Board where he served through the end of the 2006 season until his retirement.