‘Isles’ home UBS Arena set to enchant fans



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New York Islanders new arena update July 2020 naming rights Image: UBS

Switzerland-based investment bank UBS recently announced an exclusive 20-year arena naming rights agreement for the metropolitan area’s most anticipated, cutting-edge masterpiece – the live entertainment and sports venue and the future home of the New York Islanders. UBS Arena, located at Belmont Park in New York (US), is projected to open for the 2021-22 National Hockey League (NHL) season and will stage more than 150 major events annually.

UBS Arena is a $1.3 billion multi-purpose arena under construction and development in Elmont, New York, next to the Belmont Park race track. Completion is expected prior to the start of the 2021-22 NHL season. The arena will serve as the home of the New York Islanders of the NHL.

The New York Islanders are a professional ice hockey team based in Uniondale, New York (US). They compete in the National Hockey League (NHL) as a member of the Metropolitan Division of the Eastern Conference. The team plays its home games at Nassau Coliseum.

The repurposing project is expected to generate 10,000 construction jobs and 3,000 permanent jobs, generating approximately US$25bn in economic activity over the term of the lease.

Tom Naratil, Co-President UBS Global Wealth Management and President UBS Americas, stated, “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. 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.”

Tim Leiweke, CEO of Oak View Group (OVG) and leader of the arena project, maintained, “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. 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, and 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.”

Jon Ledecky, Co-Owner of the New York Islanders, asserted, “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. 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 regional economy will get a shot in the arm through the $1.5bn private investment into the arena and the economy will also get a boost from the overall surrounding campus. More so, at a time when COVID-19 has spelt disaster on the world economic activity. The project will also inject much needed stimulus into the New York economy and the local community, with the goal of filling 30 percent of UBS Arena’s permanent jobs with workers who live in the vicinity.

Thirty percent of contracting dollars for construction will also be set aside for State-certified minority and female-owned businesses, and 6 percent will be set aside for service-disabled veteran-owned businesses. An additional $100m investment in transit and infrastructure enhancements, including the first, newly constructed Long Island Rail Road Station in almost 50 years, will bring huge benefit to the local community and visitors for decades to come.

To give teeth to the local community and bolster economic redevelopment, UBS Arena will also commit a significant philanthropic investment. The main objective of these efforts will be on improving college and career readiness for local youth by providing programing related to post-secondary education and entrepreneurship, both of which are longtime keystones of UBS’s community-driven initiatives across the Americas region.

As part of its ‘Green’ initiative, UBS Arena is being built to achieve Leadership in Energy and Environmental Design (LEED v4) standards for Building Design and Construction. With environment becoming the hot-button topic, and in an effort to build a greener future, UBS Arena is working with crème de la crème sustainability experts to minimize the environmental impact of the venue and go on to become a zero waste facility, employing renewable energy sources and reducing water and electricity consumption.

Apart from 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 prominently displaying UBS logo on the roof, center ice, and throughout the venue. UBS clients and employees will also enjoy extensive VIP hospitality opportunities.

Naratil added, “Today, I’m proud to join Tim Leiweke of Oak View Group and Jon Ledecky of the New York Islanders to announce that UBS has signed an exclusive 20-year arena naming rights agreement for the New York metropolitan area’s most cutting-edge live entertainment and sports venue. UBS Arena at Belmont Park in Elmont, New York, is expected to host more than 150 major events annually and is projected to open for the 2021-22 National Hockey League season as the new home of the New York Islanders.”

Naratil continued, “I’m excited that UBS will be part of an overall $1.5 billion private investment into the arena and the overall surrounding campus that is expected to generate $25 billion in economic activity, including creating 10,000 construction jobs, 3,000 permanent jobs, and major infrastructure improvements.”

“UBS clients and colleagues will also enjoy extensive benefits from this partnership, including special access to top sports and concert events, dedicated VIP privileges, premium seating and more,” he informed.

He also added, “As an avid hockey fan myself, I’m delighted to announce this long-term partnership with the New York Islanders, an organization with a winning tradition and an exciting future. The New York City area is home to our company’s regional headquarters, thousands of our employees, and more UBS clients than any other US market. We have deep roots in the New York 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.”

The New York Islanders will be greeted into UBS Arena with a top-tier, advanced 23,000 square foot locker room and team training facility. As the team’s new home, UBS Arena will provide a matchless viewing experience for fans with spectacular views of the ice across the building. Fans can also enjoy a dedicated Islanders Club, a classic sports bar decorated with iconic memorabilia and a unique standing room section.

American global advisory, development and investment company for the sports and live entertainment industries – Oak View Group (OVG) – is spearheading the development and operations of UBS Arena, as well as leading major global development projects in Seattle, Washington, Austin, Texas, Palm Springs, California – all in US – Manchester in UK, and Milan in Italy. Sterling Project Development (SPD) is the Development Manager and Owner’s Representative for New York Arena Partners, the group developing UBS Arena.

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