Reserve ticket funds covers the debt on Steelers’ stadium

Associated Press

PITTSBURGH

A reserve fund fed by a 5-percent ticket surcharge for Heinz Field events will cover the Pittsburgh Steelers’ debt service on the relatively new stadium, should the National Football League season be canceled by the ongoing player lockout.

An official with the city-county Sports & Exhibition Authority, which owns the stadium, tells the Pittsburgh Tribune-Review that the ticket surcharge always brings in more than the $1.5 million the Steelers need to cover the team’s share of the debt obligation on the stadium that opened in 2001.

The extra money goes into a reserve fund for capital improvements — but which could also be used to cover the debt payment if the 2011 season is wiped out.

The surcharge is capped at $3 on Steelers tickets and $2 for other events, including Pitt football games.