UBS announced Wednesday that it has acquired the exclusive naming rights to the future home of the NHL’s New York Islanders, to be located at Belmont Park on Long Island.
Terms of the 20-year deal were not disclosed. The venue, which will be called UBS Arena, is being developed by the Oak View Group, the Islanders and Sterling Project Development and is slated to open for the 2021-2022 NHL season.
The arena is expected to hold over 150 major events, including concerts, annually, UBS said in a statement.
“We 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, in the statement.
Naratil added that the move demonstrates the company’s commitment to expand its presence in the Americas.
UBS said the arena will make “a significant philanthropic investment” toward promoting economic growth in the local area and will seek to boost college and career readiness for younger people in the area through “programming related to post-secondary education and entrepreneurship.”
With the naming rights come permanent exterior signage; signage on the arena’s roof, center ice and throughout the venue; and access to luxury boxes and VIP opportunities for the company's clients and employees.
The arena will also feature a new Long Island Rail Road station, part of a $100 million infrastructure and transit package.