The Pittsburgh Steelers announced Monday, that they have came to an agreement with the SEA that will allow for the expansion of Heinz Field in the South Plaza. The Pittsburgh-Allegheny County Sports & Exhibition Authority board unanimously approved an agreement to add 3,000 seats and a second scoreboard to Heinz Field.
The Steelers and Sports & Exhibition Authority board had been in a battle over who is financially responsible for such improvements,the past couple years.
The estimated cost of $37.8 million, now will be paid for by ticket revenue and the sale of personal seat licenses.
Steelers President Art Rooney II released a statement on the SEA Agreement on Steelers.com …
Steelers President Art Rooney II Statement on SEA Agreement
We are pleased that an agreement with the SEA has been reached that will allow for the expansion of Heinz Field in the South Plaza. With the new general reserved seats, club seats and new high-definition scoreboard, we believe these additions will play an important part in making sure Heinz Field continues to be a state-of-the-art facility for our fans.
The new agreement provides that the Steelers will make an annual lease payment to the SEA of approximately $2.1 million per year through the end of the lease. The new Steelers rent payment will cover 100 percent of the annual debt obligation under the new SEA bond issue. Additionally, the Steelers will manage the project and cover all project cost overruns, if any occur. The team also has agreed to a new $1 ticket surcharge starting in 2015 to help fund new capital repairs for the future.
With approximately 3,000 new seats being added, we will be able to provide many of our Waiting List fans the opportunity to become season ticket holders.