NEW YORK--(BUSINESS WIRE)--UBS today announced an exclusive 20-year arena naming rights agreement for the metropolitan area's most anticipated, cutting-edge live entertainment and sports venue and the future home of the New York Islanders. UBS Arena, located at Belmont Park in Elmont, New York, is projected to open for the 2021-22 National Hockey League season and will host more than 150 major events annually. The significant redevelopment project is expected to create 10,000 construction jobs and 3,000 permanent jobs, generating approximately $25 billion in economic activity over the term of the lease.
“We are excited to announce this long-term partnership with the New York Islanders and are proud to play a role in creating one of the country's premier sports and entertainment venues,” said Tom Naratil, Co-President UBS Global Wealth Management and President UBS Americas. “The New York City area is home to our Americas headquarters, thousands of our employees, and more UBS clients than any other US market. We have deep roots in the tri-state area and a fundamental commitment to growing our presence in the US. This is an opportunity to demonstrate and accelerate that commitment, while having a positive and lasting impact on the surrounding community.”
“UBS Arena is poised to become a global landmark entertainment and sports destination, leading us to partner with one of the world’s premier brands, UBS,” said Tim Leiweke, CEO of Oak View Group and leader of the arena project. “Together we’re eager to deliver on our shared promise of helping reinvigorate the New York economy, creating jobs, supporting a sustainable future, and safely providing an unrivaled, distinctive premium experience for all. We’re excited to bring our passion and unmatched guest service commitment to life, and we look forward to welcoming fans to what will surely become a popular global destination for world-class events for many years to come.”
“UBS Arena will stand as a beacon of strength, resilience, achievement and community, and we look forward to celebrating this milestone with our loyal fans,” said Jon Ledecky, Co-Owner of the New York Islanders. “We’re thrilled to be partners with UBS on this transformational project that will be so important to the New York economy for decades.”
The $1.5 billion private investment into the arena and the overall surrounding campus will provide a significant boost to the regional economy at a time when economic activity has slowed due to the COVID-19 pandemic. The project will also inject much needed stimulus into the New York economy and the local community, with the goal of filling 30% of UBS Arena's permanent jobs with workers who live in the surrounding area. Thirty percent of contracting dollars for construction will also be earmarked for state-certified minority and female-owned businesses, and 6% will be earmarked for service-disabled veteran-owned businesses. An additional $100 million investment in transit and infrastructure enhancements, including the first, newly constructed Long Island Rail Road station in almost 50 years, will benefit local residents and visitors for decades to come.
UBS Arena will also commit a significant philanthropic investment to drive economic redevelopment and strengthen the local community. The primary focus of these efforts will be on improving college and career readiness for local youth by providing programming related to post-secondary education and entrepreneurship, both of which are longtime cornerstones of UBS's community impact efforts across the Americas region.
Expanding on UBS's global commitment to sustainability, UBS Arena is being built to achieve Leadership in Energy and Environmental Design (LEED v4) standards for Building Design and Construction. In an effort to build a greener future, UBS Arena is working with world-class sustainability experts to minimize the environmental impact of the venue and become a zero waste facility, utilizing renewable energy sources and reducing water and electricity consumption.
In addition to securing naming rights to the arena, specific elements of the agreement with UBS include permanent exterior signage, entitlement to the Arena’s largest premium private hospitality space, and prominent UBS logo placement on the roof, center ice, and throughout the venue. UBS clients and employees will also enjoy extensive VIP hospitality opportunities.
For downloadable, high-resolution renderings of UBS Arena, please visit ubsarena.com/press-release.
ADDITIONAL PROJECT DETAILS
Exceptional services designed for the artist
UBS Arena is poised to be one of the area’s – and the nation’s – most prestigious and appealing venues for musical acts, events and performers of all genres, and will create the best and most unique entertainment experience for artists and audiences alike.
UBS Arena is designed with artists in mind to ensure the performers and crew have efficient and effortless access to the venue. In partnership with Oak View Group, Live Nation and The Azoff Company, the arena offers a bespoke, back-of-house campus and the most efficient load in/load out services.
Creating the ultimate fan experience
The venue, including its technology backbone, is being constructed with a fan-first approach. UBS Arena will feature a state of the art sound system that leverages sophisticated engineering acoustics to amplify the audio experience. The arena’s displays will include the largest scoreboard in New York with industry-leading, high definition technology and two levels of high-resolution LED ribbon boards. Additionally, the game presentation will offer dramatic theatrical lighting and ice video projections, wait times will be reduced through emerging POS solutions and payment options, and guests will enjoy 5G cellular and Wi-Fi service up to 50x faster than current networks.
Unique visitor amenities
UBS Arena will offer the highest-end amenities and customer service, through VIP suites and clubs that merge boutique hospitality with live entertainment. Clubs and suites will have a timeless design inspired by classic, well-known New York establishments and will offer premier views of the bowl. The arena also includes outdoor terraces open to all guests, world-class acoustics and theater-inspired game presentation. UBS Arena’s exterior and interior will pay homage to iconic New York landmarks, including Grand Central Terminal, Prospect Park Boathouse and the Park Avenue Armory. Complementing UBS Arena, Belmont Park’s campus will comprise 315,000 square feet of luxury retail and will include a 4-star boutique hotel with up to 250 rooms.
Cutting-edge sanitization practices
UBS Arena will employ a mix of cutting-edge sanitization technologies paired with operational, staffing, contactless technology and cleaning solutions to ensure the health and safety of patrons and staff.
Facilities will include medical grade HEPA filtration, task-specific ultraviolet light systems and adoption of cleaning and disinfecting solutions that are proven safe and effective in large-scale public spaces. UBS Arena is committed to following CDC, state and local guidance to ensure the arena presents a safe and comfortable environment in which to enjoy live entertainment and sports.
Bringing the Islanders home
The New York Islanders will be welcomed into UBS Arena with a top-tier, state of the art 23,000 square foot locker room and team training facility. As the team's new home, UBS Arena will provide an unrivaled viewing experience for fans with great views of the ice throughout the building. Fans can also enjoy a dedicated Islanders Club, a classic sports bar decorated with iconic memorabilia and a unique standing room section.
NOTES TO EDITORS
UBS provides financial advice and solutions to wealthy, institutional and corporate clients worldwide, as well as private clients in Switzerland. UBS's strategy is centered on our leading global wealth management business and our premier universal bank in Switzerland, enhanced by Asset Management and the Investment Bank. The bank focuses on businesses that have a strong competitive position in their targeted markets, are capital efficient, and have an attractive long-term structural growth or profitability outlook.
UBS is present in all major financial centers worldwide. It has offices in more than 50 regions and locations, with about 30% of its employees working in the Americas, 31% in Switzerland, 19% in the rest of Europe, the Middle East and Africa and 20% in Asia Pacific. UBS Group AG employs over 68,000 people around the world. Its shares are listed on the SIX Swiss Exchange and the New York Stock Exchange (NYSE).
About Oak View Group (OVG)
Oak View Group (OVG) is a global sports and entertainment company founded by Tim Leiweke and Irving Azoff in 2015. OVG is focused on being a positive disruption to business as usual in the sports and live entertainment industry and currently has eight divisions across six global offices (Los Angeles, New York, London, Seattle, Austin, and Philadelphia). OVG is leading the development and operations of UBS Arena, as well as leading major global development projects in Seattle, WA, Austin, TX, Palm Springs, CA, Manchester, UK and Milan, Italy. OVG Global Partnerships, a division of OVG, is the sales and marketing arm responsible for selling across all OVG Arena Development projects. OVG Global Partnerships has successfully sold four world-class naming rights deals in the past nine months - Moody Center (Austin), Subaru Park (Philadelphia), Climate Pledge Arena (Seattle), and UBS Arena (New York).
About Sterling Project Development
Sterling Project Development (SPD) is the Development Manager and Owner’s Representative for New York Arena Partners, the group developing UBS Arena.
SPD (www.sterlingprojectdevelopment.com) is a full-service development management and advisory firm. SPD is an affiliate of Sterling Equities, a 50-year-old real estate owner/manager and developer based in New York. Its ownership group also owns and operates the New York Mets Baseball Team as well as SportsNet New York, a regional sports network also based in New York. SPD is currently involved in approximately $24 billion (hard cost) worth of development projects across its advisory portfolio. SPD assists approximately 100 clients throughout the United States as well as Europe and the Caribbean.
About the New York Islanders
Founded in 1972, the New York Islanders Hockey Club is the proud winner of four Stanley Cup Championships.
The Islanders play in the Metropolitan Division of the National Hockey League’s Eastern Conference and have had nine members inducted into the Hockey Hall of Fame.
The Islanders Children’s Foundation has helped countless youngsters in need around the world since its inception. Donations are raised through the efforts of our players, management and employees, along with our fans and sponsors.
UBS Arena at Belmont Park will be the team’s home starting with the 2021-22 NHL season.