The Swiss bank is splashing out as a long-term sponsor of the National Hockey League's New York Islanders. The deal includes naming rights on the team's soon-to-be-completed stadium.
UBS is set to slap its name on the $1.5 billion new home of the New York Islanders, as part of a U.S. sponsorship deal, it said in a statement. The National Hockey League team, which last won a Stanley Cup in 1983, augments the Swiss bank's more than ten-year sponsoring of the Formula 1 racing circuit and partnership with driver Lewis Hamilton.
The Belmont Park arena is scheduled to open in time for the 2021/22 season and is expected to host more than 150 major events annually. Over the 20-year lease, the redevelopment is expected to create 10,000 construction jobs and 3,000 permanent jobs as well as generate approximately $25 billion in economic activity, UBS said.
Hockey Aficionado
Tom Naratil, the bank's top American banker and wealth management co-head, said the deal underscores UBS' commitment to the U.S. market as well as to the area, which serves as its regional headquarters. «We have deep roots in the tri-state area and a fundamental commitment to growing our presence in the U.S.,» Naratil said.
The 59-year-old recently described his long love of hockey in a finews.com essay. As with UBS' other sponsoring commitments like Formula 1 or Art Basel, the bank clinched premium private hospitality space in the new Islanders' area, as well as the right to place its logo on the roof, at center ice, and throughout the venue.
