On Monday, the Steelers announced that they had sold a new stadium rights naming deal that wouldn’t go to Heinz. Instead, it went to a Michigan-based insurance company Acrisure.
As such, Heinz Field will now become Acrisure Stadium. That left many Pittsburgh supporters who liked the Heinz Field name upset. Some players even weighed in, including legendary Steelers quarterback Ben Roethlisberger.
Many wondered why Heinz didn’t renew its sponsorship with the Steelers and keep its name in place. The company explained shortly after the new stadium deal was done that it all boiled down to one thing: money.
MORE: Steelers fans, personalities react to stadium name change
Why is Heinz Field now Acrisure Stadium?
The Kraft Heinz Company released a statement Monday addressing their naming rights deal with the Steelers. They explained that they couldn’t justify paying as much for the rights as Acrisure was willing to shell out.
According to Andrew Filliponi of 93.7 The Fan, Acrisure is paying more than $10 million a year to secure the Steelers’ stadium naming rights. That could potentially quadruple the previous value of Heinz’s investment, which averaged $2.85 million per year during their 21 years as the sponsor, per Pro Football Talk.
As such, Kraft Heinz is stepping back from the sponsorship deal due to its cost. This choice despite being a multi-billion-dollar company.
MORE: Le’Veon Bell explains why he is focused on boxing, not NFL
That said, Heinz — a Pittsburgh company — isn’t ending its sponsorship of the Steelers entirely. They are going to be a “significant, long-term partner” for the organization and outlined some work that the company will do for the Pittsburgh community.
So, Heinz will still have a significant presence in Pittsburgh. It may just be a bit muted compared to when they had the stadium naming rights.
Kraft Heinz is committed to its ongoing support of the Steelers and the Pittsburgh community, in a city that is our co-headquarters. In addition to our partnership with the Steelers, we look forward to our continued support of organizations such as the Greater Pittsburgh Community Food Bank and Grow Pittsburgh, as well as sponsorship of events like Picklesburgh, among others.
