• by Steve Ellwanger , July 12, 2022

Kraft Heinz has punted on its 20-year relationship with the Pittsburgh Steelers in a move that will see the football team’s Heinz Field stadium renamed Acrisure Stadium, in a new partnership with global insurance broker Acrisure LLC.

The Steelers today announced a 15-year, naming-rights deal with Grand Rapids, Michigan-based Acrisure for an undisclosed sum.

The disclosure came one day after Kraft Heinz issued a statement saying that the Steelers had “found a new partner willing to pay significantly more than we could justify.”

According to SBNation, H.J. Heinz Co. paid $57 million in 2001—or $2.85 million annually—for its 20-year naming deal that expired in 2021.

By comparison, the personal finance company and online bank SoFi paid $9.8 million in sponsorship fees in a one-year deal to sponsor SoFi Stadium in Los Angeles—home to the Los Angeles Rams and Los Angeles Chargers, as reported by Sports Business Journal.

“While our name will no longer be on the stadium, Heinz will remain a significant, long-term sponsor of the Steelers and we’re excited to announce the details of our new partnership in the days ahead,” Kraft Heinz said in its statement.

The Steelers described Acrisure as a company that has grown from $38 million in revenue to more than $3.8 billion “in just over eight years” while rapidly expanding its global footprint.

"Acrisure provided us with an opportunity to ensure our stadium continues to be a valuable asset for our fans as well as keeping up with the market value of NFL stadiums,” Steelers President Art Rooney II said in a news release.

Acrisure is an insurance broker that provides customers with artificial-intelligence-driven solutions for insurance, reinsurance, real estate services, cyber services and asset and wealth management, according to the company’s website.