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PNC PONIES UP $30M FOR NAMING RIGHTS TO PIRATES' NEW PARK
Published August 7, 1998
The Pirates and Pittsburgh-based PNC Bank yesterday announced a 20-year marketing alliance under which the new home of the Pirates will be named PNC Park when it opens in 2001. Under the naming-rights agreement, PNC will pay approximately $1.5M a year through the 2020 season. The bank has also negotiated a separate marketing agreement that provides several marketing, advertising and merchandising opportunities, including the exclusive right to offer financial services at the ballpark (Pirates). IMAGE BOOSTER FOR PNC: In Pittsburgh, Tom Barnes reports that PNC Chair Thomas O'Brien and PNC President/ Pittsburgh Operations Sy Holzer said the new agreement "includes a national marketing and promotional component that will help PNC publicize its name on a wider scale and better compete in the world of institutional investing and asset management." O'Brien: "We'll get something like a billion-and-a-half impressions of PNC a year." O'Brien added that PNC's investment will also "bolster its growth in the Pittsburgh region," where it employs 8,100 people and has added 3,400 workers since '95. The naming rights will cost PNC $30M over the life of the deal, and it will also pay another fee for the marketing deal (POST GAZETTE, 8/7). CAN YOU STOP THE INSANITY? MLB Commissioner Bud Selig was asked several questions yesterday about MLB's economic disparity at the PNC news conference, and in Pittsburgh, columnist Ron Cook writes that "it's really depressing when baseball's commissioner offers no real hope for any fiscal sanity prevailing in the future" (POST GAZETTE, 8/7).