State of the art UBS Arena at Belmont Park, developed in partnership with Oak View Group, the New York Islanders, and Sterling Project Development, is projected to open for the 2021-22 National Hockey League season
The $1.5 billion project and surrounding redevelopment expected to generate approximately $25 billion in economic activity, including major infrastructure improvements, 10,000 construction jobs, and 3,000 permanent jobs of which 30% are to be set aside for local residents
Project to earmark 30% of construction contracting dollars for state-certified minority and female-owned businesses and additional 6% to service-disabled, veteran-owned businesses
This long-term agreement reinforces UBS’s commitment to the New York metro area as firm’s Americas headquarters
Zurich, 22 July 2020 – 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.
UBS AG
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