Forbes: Steelers to lose more than $156 million in stadium revenue if there are no fans

Chris Adamski
Monday, May 18, 2020 2:28 p.m. | Monday, May 18, 2020 2:28 p.m.

Nate Smallwood | Tribune-Review

Pittsburgh’s Heinz Field sits empty on Tuesday, May 12, 2020. The home of the Pittsburgh Steelers, the facility potentially could be devoid of fans for Steelers games this fall. If so, that will cost the Steelers billions in revenue.

Details

House of pain
Projected losses, in millions of dollars based on 2018 numbers, if the NFL will plays this season without spectators in its stadiums.
1. Dallas Cowboys $621M
2. New England Patriots 315
3. New York Giants 262
4. Houston Texans 218
5. New York Jets 218
6. San Francisco 49ers 208
7. Washington Redskins 205
8. Atlanta Falcons 204
9. Philadelphia Eagles 204
10. Green Bay Packers 174
11. Miami Dolphins 172
12. Chicago Bears 166
13. Denver Broncos 162
14. New Orleans Saints 161
15. Steelers 156
16. Seattle Seahawks 156
17. Baltimore Ravens 153
18. Minnesota Vikings 152
19. Carolina Panthers 143
20. Jacksonville Jaguars 142
21. Kansas City Chiefs 128
22. L.A. Rams (1) 121
23. Arizona Cardinals 119
24. T.B. Buccaneers 119
25. Detroit Lions 117
26. Cleveland Browns 113
27. Indianapolis Colts 112
28. Tennessee Titans 110
29. Buffalo Bills 104
30. Cincinnati Bengals 99
31. L.A. Chargers (1) 93
32. Las Vegas Raiders (1) 77
1: Scheduled to move into new stadium for 2020.
Source: Forbes.com

Email Newsletters

As sports leagues around the world stage events without fans, the clock is ticking on the scheduled start of the NFL’s 2020 season. And if the coronavirus pandemic dictates empty stadiums in the fall, that would put a significant dent in team revenues.

According to Forbes.com, the NFL would lose more than $5.5 billion in revenue if games are played without spectators. The financial magazine reported that figure is what teams grossed from tickets, concessions, sponsors, parking and team stores during the 2018 season. That number surely would have been higher in 2020, particularly because three teams are scheduled to move into new stadiums.

According to Forbes, 38% of the NFL’s revenue comes from stadiums. That is a significant figure, but it also reinforces why playing in front of no fans (but on television) is still highly profitable.

The stadium revenue of each NFL team will lose if games are played without fans: https://t.co/OvWCIA32bG pic.twitter.com/xEp67GLClT

— Forbes (@Forbes) May 18, 2020

Forbes reported the Pittsburgh Steelers made $156 million from games at Heinz Field in 2018. That is just below the league average but exactly at its mean (tied for 15th with the Seattle Seahawks).

Per Forbes, 35.5% of the Steelers’ total 2018 revenue of $439 million came from stadium tickets, concessions, sponsors, parking and team stores.

Heinz Field brings the Steelers more revenue than their AFC North rivals’ stadiums. The Baltimore Ravens in 2018 grossed $153 million from M&T Bank Stadium, the Cleveland Browns $113 million from FirstEnergy Stadium and the Cincinnati Bengals $99 million from Paul Brown Stadium.

The Bengals ranked 30th in 2018. They likely would have fallen to last in stadium revenue this season. The two teams that finished below them (Los Angeles Chargers and Las Vegas Raiders) were moving into new facilities.

John Steigerwald: The big question is will fans be allowed to attend the games?
If not, the @NFL should forget it. Write off the 2020 season. https://t.co/Qvg5KUfVKr

— Tribune-ReviewSports (@TribSports) May 11, 2020

Allegheny County is in the “yellow’ phase of re-opening, per orders from Gov. Tom Wolf. Neither organized sports nor large gatherings are permitted until the state deems the county “green.” There is no indication when this could happen.

Forbes last year valued the Steelers at $2.585 billion. The NFL and its teams repeatedly have declined comment after Forbes annually publishes its valuations.

Chris Adamski is a TribLive reporter who has covered primarily the Pittsburgh Steelers since 2014 following two seasons on the Penn State football beat. A Western Pennsylvania native, he joined the Trib in 2012 after spending a decade covering Pittsburgh sports for other outlets. He can be reached at cadamski@triblive.com.