PA-based Mellon Financial Corp. and the Penguins
announced a naming-rights deal under which Civic Arena will
be renamed Mellon Arena. As part of the deal, Mellon is
provided marketing, advertising and merchandising
opportunities at all arena events, including the exclusive
right to offer financial services and products at the venue
(Mellon). In Pittsburgh, Tom Barnes reports that the
Penguins "have netted a cool" $18M in the ten-year deal.
Mellon will get signage inside the arena, a logo at center
ice and its name on the "large marquee" outside the arena
and at parking lot entrances. The team will receive all the
funds from the deal, which differed from the city's
agreement with previous team ownership. Pittsburgh Mayor
Tom Murphy, on the change: "The Penguins had a recipe for
disaster in how they were being operated financially. We
didn't want to give up these revenues at that time. We
feared there was an unhealthy financial situation with the
team. But now we have confidence in the Penguins'
leadership." The deal means that two of the three sports
venues in Pittsburgh will be named for local banks, as the
Pirates' new ballpark will be called PNC Park (PITTSBURGH
POST-GAZETTE, 12/21). Also in Pittsburgh, Robert Baird
reports that Mellon will feature ATMs at the arena. Mellon
Chair & CEO Martin McGuinn said that the deal "reinforces
the bank's name recognition" in NHL cities "where it has
operations, and in Europe." Baird notes that Mellon
"provided support" to the Penguins when it faced a financial
crunch in becoming the team's official bank last December.
Mellon also signed on to title sponsor Lemieux's local golf
tournament, which will be named the Mellon-Mario Lemieux
Celebrity Golf Classic (Pittsburgh TRIBUNE-REVIEW, 12/21).
