The New York Islanders’ new arena at Belmont Park isn’t finished, but it already has a name.
Investment banking giant UBS has agreed to a 20-year deal for the naming rights to the new building, which will be called UBS Arena at Belmont Park.
“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,” Islanders co-owner Jon Ledecky said in the official statement announcing the news. “We’re thrilled to be partners with UBS on this transformational project that will no doubt be so important to the New York economy for decades.”
UBS – which stands for Union Bank of Switzerland – is a global investment firm based in the country it is named for, but has numerous offices throughout the Tri-State area. The new venue now bearing their name is slated to have a maximum capacity of 19,000 with a 17,000-seat alignment for Islanders games, and will feature the highest-resolution scoreboard in New York among many other amenities.
"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," Tom Naratil, Co-President of UBS Global Wealth Management and President of UBS Americas said in the statement. "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."
The new UBS Arena at Belmont Park is also the centerpiece of a development project at Belmont that includes 315,000 square feet of luxury retail space, a boutique hotel, and the first newly-constructed Long Island Railroad station in a half-century.
The facility is expected to be ready in time for the Islanders to begin the 2021-22 NHL season.