Venue Detail
Pittsburgh Pirates
RSV Pro Facilities Report
March, 2015
Pittsburgh Pirates
PO Box 7000 Pittsburgh, PA 15212 Phone: 412-323-5000 Fax: 412-323-5024 URL: www.pirateball.com Owner: Bob Nutting and other investors League: Major League Baseball, National League, Central
Venue
PNC Park, 115 Federal St., Pittsburgh, PA 15212 Owner: Public Auditorium Authority Managed by: Team Built: 2001 Capacity: 38,000 Permanent concession stands: 33 Concessionaire: Aramark Suite caterer: The Levy Restaurants Soft drink:
Naming rights
Sold to: PNC Bank Price: $30,000,000 Term: 20 years Expires: 2020
Ticket prices
Season tickets range from $360 to $4,428 Single tickets range from $15.00 to $245.00
Attendance
2012 average attendance: 26,148 2013 average attendance: 28,210 2014 average attendance: 30,155
Suites
Quantity: 65 Term: 3 to 7 years Price: $60,000 to $175,000 Seats: 11 to 24
Club seats
Quantity: 3,374 Price: $3,660 to $17,490 Includes: Price does not include seat license.
Financing
The state created a financing plan to build new venues for the Steelers and the Pirates. The plan is becoming a model for several other communities. It will also be used to help fund stadia for the Philadelphia Phillies and Eagles.
The deal raises the state's debt ceiling by $650 million, funneling $320 million to the stadium projects and the rest to other construction. Of the $320 million, $150 million is earmarked for Pittsburgh and the rest goes to Philadelphia.
The money would not be given as a grant. The state would make an interest-free loan to each team for up to a third of the cost of a new stadium with the loan to be repaid from new taxes generated by the venue. If the new tax money does not equal at least $2.5 million annually in each of the 30 years of the loan's term, the team must make up the difference. Reconciliation of the monies paid and the amount owed would be done every 10 years. Tax revenue that would apply to the loan would come from concession and ticket sales, player salary taxes and corporate taxes. Teams could deduct surplus money from rent payments and if taxes collected exceed payments, the teams pay nothing. Taxes paid on construction costs before the stadia open will also be credited toward the loan repayment.
An additional concession was made to the teams: once the base tax is determined, it will be reduced by 25 percent for the first 10-year period. The base tax is the amount now collected and the number that will be used to compare against new taxes collected. The measurement makes it more likely that taxes will cover the loan costs in the first 10 years with inflation helping the teams in later years.
The legislation also contains a provision that binds any buyer of the teams to the deal.
The Pirates are investing $40 million of their own money into the facility.
Seat licenses
Prices range from $2,000 to $6,000 and offer positions behind home plate and along the base lines near the field level.
Those buying the 384 seats behind home plate will pay $4,000 to $6,000 for the Charter Seat Licenses, plus the ticket price of $100 to $125 per game. Buyers get access to an exclusive Homeplate Club which offers food at no additional cost. Buyers will have their names imprinted on the seats.
The rest of the seat licenses go for $2,000 to $3,000 plus $30 to $35 per ticket. Seat holders in these sections have access to private club and concession facilities.
The Pirates play in PNC Park, having sold naming rights to the new $250 million ballpark to PNC Bank for $30 million over 20 years. The money will be used toward the $40 million the team will contribute to the new ballpark. The Pirates will also generate money through a ticket surcharge and the sale of PSLs. The new stadiums lie on either side of the former Sixth Street Bridge which has been renamed the Roberto Clemente Bridge to ease fan concerns that the ballpark should be named after the former Pirates player who was killed while delivering supplies to victims of the Nicaraguan earthquake in 1972.
Three rotundas mark entries to the ballpark. The Pirates sold sponsorships to those for $250,000 on three-year deals.
Special club seats behind home plate have access to their own private club. The 384 seats sell for $8,100 to $12,150 per season.
Three Rivers Stadium was razed to make room for the new venues.
The stadium features restaurants operated by two local restauranteurs. Vincent's Pizza and Atria will add to the venue's local flavor. The stadium also offers an Outback Steak House, Benkovitz fish and seafood, Primanti Brothers sandwiches and Seattle's Best Coffee.
The Outback Steak House seats 411 and is the largest in the chain. Team officials say on a game day the restaurant can make $30,000.
The team's administrative offices nearby have retail space including room for its own team store. A newspaper/magazine shop is included as is a sports art store and children's sport shop. (Baseball, Facilities, MLB, Professional Sports, Venue)