But, by 1999, this had changed. When Mario Lemieux bought the Penguins out of bankruptcy, the naming rights were also awarded to him. They then sold the rights to Mellon Financial for $18 million, and the arena was finally renamed Mellon Arena. The arena kept the name after Mellon merged with The Bank of New York to form The Bank of New York Mellon in 2007 and didn't go through with the "BNY Mellon" rebranding like other buildings bearing the Bank of New York or Mellon name such as One Mellon Center.