| | PITTSBURGH -- The NHL's oldest arena has a new name: Mellon
Arena.
The Pittsburgh Penguins signed an $18 million, 10-year agreement
Monday to rename the Civic Arena after the Pittsburgh-based bank.
The downtown arena was built in 1961 and is better known
throughout the NHL as the Igloo because of its signature curved
steel roof.
One of the few pro sports arenas nationally that did not
previously have a corporate identity, the arena became the NHL's
oldest last season when Maple Leaf Gardens in Toronto closed.
The Penguins got the naming rights during owner Mario Lemieux's
acquisition of the team in federal bankruptcy court earlier this
year.
"This agreement is a very important step to making this
franchise financially viable," Lemieux said.
The Sports and Exhibition Authority, which oversees the arena
and the city's other stadiums, is expected to approve the name
change Tuesday. A contract is expected to be signed sometime in
January.
Formerly known as Mellon Bank and now called Mellon Financial
Corp., the bank gains the exclusive rights to offer financial
services such as automatic teller machines and credit card signup
booths inside the arena. Mellon also acquires the center ice logo
and the building marquee.
"This sponsorship is an excellent fit for us as we continue to
expand our presence in the city of Pittsburgh and our brand
recognition," Mellon chairman Martin G. McGuinn said.
Mellon's acquisition probably eliminates it as a primary
contender for the naming rights to the new Pittsburgh Steelers
stadium that will open in 2001. With Mellon unlikely to want the
name to two sports facilities in the same city, Heinz apparently
becomes the front-runner for the Steelers' naming rights.
PNC Bank, Mellon's chief rival in the Pittsburgh banking
industry, already has agreed to spend $30 million over 20 years for
naming rights to the Pirates' under-construction ballpark, to be
called PNC Park. It also will open in 2001.
The Penguins did not immediately say if the agreement calls for
a rebate to Mellon should they move into a new arena. Lemieux is
expected to begin pushing next year for an arena with more luxury
seating, club boxes and other amenities.
However, it is believed the Civic Arena agreement puts Mellon
first in line to acquire the naming rights to any new arena.
Former Penguins owners Roger Marino and Howard Baldwin tried in
1997 to sell the arena name to Allegheny Energy for $5 million over
six years. But that agreement fell through when City Council
questioned if the Penguins owned the rights. | |
 |
