Allegheny County and Pittsburgh city leaders yesterday
proposed an $803M plan to finance new stadiums for the
Pirates and Steelers along with expansion of the city's
convention center, according to Rich Lord of the Pittsburgh
TRIBUNE-REVIEW. The so-called "Plan B" would have
"taxpayers bearing more than" 75% of the cost. While both
teams have offered $85M toward facility financing, "city and
county leaders have made it clear that the $85 million was
not enough." Allegheny County Commissioner Bob Cranmer said
that "the team contributions must increase if the package is
to work" (Pittsburgh TRIBUNE-REVIEW, 3/10).
DETAILS: The package, announced by Pittsburgh Mayor Tom
Murphy, would include $633M in public funds, "relying on
such traditional methods as tax revenue and bond income."
It would also tax pro athletes who play in the city but
don't live in PA. Private financing would bring in "at
least" $170M, including the team's contributions and the
possible selling of portions of the stadiums -- such as
billboards/scoreboards -- to private investors. The selling
of naming rights could also be included. Cranmer: "There's
been a lot of talk about naming the new football stadium
after Mr. Art Rooney. If that's the case, that's going to
cost (the Rooney family) money." The Steelers said part of
their contribution would include PSL sales, while the
Pirates "would not say how they intend to finance their
contribution" (TRIBUNE-REVIEW, 3/10). Pirates Owner Kevin
McClatchy: "[T]his is a historic day for Pittsburgh and the
region. We're excited about signing a lease for 25 or 30
years and being a member of the Pittsburgh community for a
long time" (PHILADELPHIA INQUIRER, 3/10).