PNC Park name deal extended until 2031
BRADENTON, Fla. — The Pirates and PNC Bank announced a 10-year extension to the naming rights of PNC Park on Thursday, officially taking their marriage into 2031.
The previous 20-year agreement was set to expire at some point before the 2021 season, according to a release issued by the Pirates. PNC’s past sponsorship agreement saw the bank pay $30 million over two decades for the right to affix its name to the ballpark.
Financial terms for the extension were not disclosed.
Because Gov. Tom Wolf earlier this week eased COVID-19 restrictions, the Pirates will welcome fans to PNC Park beginning with the home opener April 8. Speaking to the media at LECOM Park on Wednesday, Pirates president Travis Williams said that means 7,500 to 8,000 people will be able to enter the ballpark.
Mr. Williams also tipped his hand on the extension of the naming rights deal, saying the two sides had “made very good progress” in talks.
“It is an honor for us to begin the next chapter with PNC,” Mr. Williams said in a statement announcing the extension. “We have long been proud of the relationship between our two brands, and are pleased that PNC shares our optimism in the new course we have set as an organization.
“The spirit of this agreement reaches well beyond the ballpark. PNC’s shared pride in our city and commitment to make a difference in our community
remains an important aspect of our work together.”
The release indicated that both sides would continue a commitment to make an impact in the community by supporting initiatives aimed at improving the lives of others, specifically children.
The Pirates said their consultant, Premier Partnership, advised them on the naming rights renewal. Premier Partnerships works with the team on commercial strategy.
The naming rights deal will end at roughly the same time as the Pirates’ PNC Park lease, which expires Oct. 31, 2030.
Although the ballpark is owned by the Pittsburgh-Allegheny County Sports & Exhibition Authority, the Pirates get to keep all of the money PNC is paying for the rights under the new deal, just as they did under the last one.
Under that lease, the team also keeps most of the revenue from concessions, ticket sales, and advertising.
Ground was broken for PNC Park on April 7, 1999, with the ballpark opening on April 9, 2001. This upcoming season will be the Pirates’ 21st at PNC Park.
“The Pittsburgh Pirates are our hometown baseball team, and as Pittsburgh’s hometown bank, we believe the opportunity to renew our agreement makes a great deal of sense,” said Lou Cestello, head of regional markets and regional president for PNC in Pittsburgh. “Our relationship with the Pirates is a natural fit, as our two organizations share a focus on providing opportunities for those in our community to succeed, especially young children and families.”