Venue Detail
Pittsburgh Penguins
Revenues From Sports Venues Pro Facilities Report
February, 2011
Pittsburgh Penguins
|
300 Auditorium Pl Pittsburgh, PA 15219-3516 Phone: 412-642-1300 Fax: 412-642-1859 URL: www.pittsburghpenguins.com
Owner
Mario Lemieux and an investment group
League
National Hockey League Eastern, Atlantic Division
Venue
Consol Energy Center, 1001 Fifth Ave, Pittsburgh, PA 15219 Owner: Sports & Exhibition Authority Managed by: SMG Facility Management Built: 2010 Capacity: 18,000 Concessionaire: Aramark Suite caterer: Aramark Soft drink: RC Cola
Naming rights
Sold to: Consol Energy Inc. Term: 21 years Expires: 2029
Ticket prices
Season tickets range from $924 to $3,234 Single tickets range from $50.00 to $115.00
Attendance
2007 average attendance: 16,424 2008 average attendance: 17,076 2009 average attendance: 17,992
Luxury Suites
Quantity: 66 Term: 5 to 10 years Price: $115,000 to $250,000 Seats: 12 to 24
Club seats
Quantity: 2,000 Term: 5 to 10 years Price: $8,600 to $8,600
The Pittsburgh Penguins reached an agreement with city and Allegheny County officials in 2007 for a new $321 million arena that will keep the team in town for 30 years.
Consol Energy Inc. will pay millions to the Pittsburgh Penguins to put its name on the new arena. The naming-rights deal is for 21 years, but neither Consol nor the Penguins would say precisely how much money will change hands.
Under lease terms, the Penguins will keep all the revenue generated by the new arena. It also is responsible for the management, operation and maintenance of the arena.
A fund similar to those set up for PNC Park and Heinz Field will be established for capital repairs. The first $3 million will come from the bond issue to finance the construction. Another $400,000 a year will come from a parking surcharge. The team will have control over parking in the lease.
The Penguins will get all parking revenue. They also can recoup some lost parking revenue from the Mellon Arena site if they follow through with plans for a parking garage next to the new arena. The team has pledged $500,000 a year toward the garage.
The team will receive all revenues from the new arena. Team owner Mario Lemieux said the access to such revenue would allow the team to compete and retain much of its young talent.
As part of the agreement on development rights, the Penguins must redevelop 2.8 acres of the 28-acre Mellon Arena site each year. Whatever they do not develop will be forfeited to the Sports and Exhibition Authority, which then would have the right to seek other developers.
The new arena will have about 18,500 seats, some 1,500 more than Mellon Arena. The seats are larger, with more leg room in the aisles. There will 66 luxury suites compared with 50 at Mellon Arena. The suites are larger than the current suites and closer to the ice. The suites also have Internet access, concierge service and other amenities.
The team declined to disclose its club seat prices. (Facilities, Financial, Ice Hockey, NHL, Professional Sports)