Despite the naming deal for the Pittsburgh Steelers’ stadium running through 2021, Heinz is apparently tossing in their terrible towel.
According to Terry Lefton of the Sports Business Journal, Heinz is expected to end their naming rights deal with the Steelers once their current contract ends.
Heinz’s imminent departure marks the first time that the Steelers will have a new name for their stadium in the stadium’s history. It opened in 2001 after the Steelers moving over from Three Rivers Stadium. It has hosted Steelers since, along with the 2011 NHL Winter Classic and numerous concerts and other non-football-related events.
Kraft Heinz pays an average of $2.85 million for the naming rights under its current deal, originally a $57 million deal for 20 years since 2001, well below market value. The total $57 million number was a reference to Heinz 57, a historical advertising slogan for the longtime Pittsburgh-based company. Primanti Brothers should be leaping at this opportunity.