SBD/September 14, 2012/Facilities

Steelers Adding 3,000 Seats At Heinz Field; Team Responsible For One-Third Of Cost

The Steelers and local political leaders "have negotiated the framework of a deal to finance the construction of an additional 3,000 seats at Heinz Field," according to a front-page piece by Mark Belko of the PITTSBURGH POST-GAZETTE. The expansion would be "funded by a $1 increase in an existing surcharge on Steelers tickets and a new parking surcharge of roughly $2 to $3 at lots around Heinz Field during home games." Money raised from the surcharges would support a bond issue, estimated at $20M, to be "floated by the Pittsburgh-Allegheny County Sports & Exhibition Authority, the stadium owner, to finance its share of the construction," projected at $38-39M. The rest of the money would "come from the Steelers and other private sources." The team likely will sell PSLs "to fund part of its share." No allegheny Regional Asset District money would be "used to finance any part of the construction." Under the team's lease at Heinz Field, the Authority is "obligated to pay two-thirds of the cost for a 'designated expansion' involving no more than 10,000 seats in the south end zone." The Steelers are "responsible for one-third of the cost." Officials are "hoping to finalize a deal within the next month in order to start construction after the current season." The Steelers "want to have the new seats in place by next season" (PITTSBURGH POST-GAZETTE, 9/14).
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