In addition to raising a Stanley Cup banner in the coming weeks, the Pittsburgh Penguins will be raising a new name on their arena.
Consol Energy signed a 21-year agreement with the Penguins for the naming rights of the new arena when it opened in 2010. But that deal only lasted six years as the team announced a naming rights agreement with Pittsburgh-based PPG Paints today.
Terms were not disclosed, but the deal is worth 21 years. According to the Pittsburgh Post-Gazette, Consol Energy has struggled financially this year due to low natural gas and coal prices. Consol Energy and the Penguins were able to reach a deal that allowed them to remain a sponsor within the arena but relinquish their name on the building, effectively maintaining a branding presence for a lower cost.
This allowed PPG Paints to reach out to the Penguins organization about acquiring the naming rights and a deal was reached. A changeover of this magnitude typically takes place during the summer when arenas are in less use, but with the NHL preseason underway the transition will take place over the next several weeks.
“As we continue to invest in building our brand, PPG PAINTS Arena offers us a unique platform to showcase our paint and coatings products that help protect and beautify the world,” said Michael McGarry, PPG chairman and CEO in a press release. “This partnership – with one of the most-watched sports franchises on television – enables PPG to showcase our consumer products, including the PPG PAINTS™, GLIDDEN®, OLYMPIC® paint and stain, and PITTSBURGH PAINTS & STAINS® brands, to an audience of home-improvement consumers and paint professionals.
“We are proud to support the Stanley Cup-champion Pittsburgh Penguins and to invest in this important venue in our hometown,” McGarry continued. “On behalf of our customers, employees and business partners around the world, PPG sends a hearty, ‘Let’s Go Pens!’ cheer to the team and all of Pittsburgh.”
The PPG PAINTS Arena logo will have a presence on the exterior of the building, including all spectator entrances and the roof of the arena. In addition, the PPG PAINTS Arena logo will be installed at center ice and on the boards around the rink. PPG will also have a branded presence at the Penguins practice and training facility.
There are currently two arenas in the National Hockey League without a naming rights sponsor. Once the Detroit Red Wings move from Joe Louis Arena to the currently under-construction Little Caesars Arena, Madison Square Garden will be the lone building without naming rights.
