PITTSBURGH, PA (CelebrityAccess) — Energy extraction concern Consol has ceded the naming rights to the Consol Energy Center, the home of the Pittsburgh Penguins.
According to the Pittsburgh Post-Gazette, the team announced the change during a morning press conference, stating that PPG Paints has acquired the naming rights and that the venue would be renamed the PPG Paints arena.
“Though our priorities have evolved, we will maintain a presence in the arena and will continue to do our part in driving the region forward,” Consol spokesman Brian Aiello, said in a statement. ”As a company with deep roots in this region, we are pleased to be able to transfer the naming rights from one iconic Pittsburgh company to another.”
Consol had signed on as the naming rights sponsor for the venue when it opened in 2010 with a 21-year term for the deal, but the company has since faced significant headwinds amid weak prices for both coal and natural gas, their two primary products.
Financial terms of the agreement with PPG Paint were not disclosed, but the arena expects to have new signage in time for the home opener on Oct. 13th. – Staff Writers