MOOSIC, Pa -- Lackawanna County Commissioners, Robert C. Cordaro and A.J. Munchak, on behalf of the Scranton/Wilkes-Barre Yankees and the Multi-Purpose Stadium Authority, announced Thursday that PNC Financial Services Group, Inc. has acquired the naming rights for Lackawanna County Stadium. The Yankees home will now be called PNC Field and will open its renamed doors on April 5, 2007.
The 3-year agreement runs through the 2009 season and includes a total investment of almost $1.1 million. The comprehensive agreement includes a variety of items including PNC Bank ATMs throughout PNC Field, signage, broadcast advertising and player appearances among other benefits.
Peter J. Danchak, president of PNC Bank, Northeast Pennsylvania, said, "We could not be more pleased to be announcing this partnership, and associating the PNC brand with the excitement and tradition that Yankee baseball brings to Scranton/Wilkes-Barre. This strategic investment will allow PNC to capitalize on a broad range of marketing, advertising and promotional opportunities that will further strengthen our business. Most importantly, this agreement reflects our commitment to this community and supports the quality of life that makes our region such a great place to live and work."
PNC Field opened in 1989 at a cost of $25 million and will enter its 19th season of hosting Scranton/Wilkes-Barre Triple-A baseball. In that time the stadium has hosted over 1,200 professional baseball games and has seen many future stars pass through on their way to the Major Leagues.
"A.J. Munchak and I are very pleased to continue the success that Mandalay Sports Entertainment and the New York Yankees have helped us bring to Lackawanna County and Northeast Pennsylvania. This is something that needed to be done to preserve the financial integrity of Triple-A baseball and our stadium. It is doubly rewarding that PNC has stepped up to support baseball in such a big way," added Commissioner Robert C. Cordaro.
"In order to truly be a partner in such an important endeavor you have to share common philosophies and goals. We have always recognized PNC as a local leader and corporate citizen, therefore we felt, from the very beginning, that this would be an excellent marriage," said Scranton/Wilkes-Barre Yankees Executive Vice President/COO Jeremy Ruby. "They have been a strong supporter and partner of the franchise from day one and this agreement will make our partnership bigger and better. We are truly excited and look forward to many years of baseball at PNC Field."
The PNC Financial Services Group, Inc. is one of the nation's largest diversified financial services organizations providing retail and business banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.
PNC earned all-time record net income of $2.6 billion, or $8.73 per share for 2006; growing customers, revenue, average loans and average deposits during the year. PNC's total assets exceeded $100 billion for the first time, a milestone that further confirms PNC's place among the largest banks in the United States. In addition, PNC was named the highest-ranking financial institution for overall small business customer satisfaction by J.D. Power and Associates 2006 Small Business Banking Satisfaction Study.
The PNC Financial Services Group, Inc. has approximately 2.5 million consumer and small business customers. In addition it employs more than 23,800 people in 32 U.S. states and abroad. There are 854 PNC Bank branches in eight states and the District of Columbia. They can be reached toll-free at 1-888-PNC-BANK or online at www.pnc.com
This story was not subject to the approval of the National Association of Professional Baseball Leagues or its clubs.