Please ensure Javascript is enabled for purposes of website accessibility

Amazon Wins Naming Rights to Seattle NHL Arena – Here are the Details

By Rhian Hunt – Jun 25, 2020 at 2:37PM

You’re reading a free article with opinions that may differ from The Motley Fool’s Premium Investing Services. Become a Motley Fool member today to get instant access to our top analyst recommendations, in-depth research, investing resources, and more. Learn More

The e-commerce giant picked the name “Climate Pledge Arena” for the sponsored venue.

Looking to strengthen its green bona fides, Amazon (AMZN -3.01%) announced today it bought the sponsorship rights to Seattle's new multipurpose arena, changing its name from KeyArena to Climate Pledge Arena. CEO Jeff Bezos noted instead "of naming it after Amazon, we're calling it Climate Pledge Arena as a regular reminder of the importance of fighting climate change."

The arena will be the official home of Seattle's freshly minted NHL (National Hockey League) team. The team will be the 32nd member of the League and the 16th franchise in the Western Conference, making it equal in size to the 16-team Eastern Conference. Unveiling of the team's name was recently delayed again, with Sockeyes, Firebirds, and Whales among the possible choices.

Climate Pledge Arena will also become the official home of the Seattle Storm, a WNBA team. Concerts will also occur at the venue.

Climate Pledge Arena.

Image source: Amazon

The arena includes many sustainable features, leading Bezos to describe it as "the first net zero carbon certified arena in the world," set up to "generate zero waste from operations and events, and use reclaimed rainwater in the ice system to create the greenest ice in the NHL."

Other environmentally-friendly aspects of the arena will include 100% renewable energy powering it, an attempt to achieve International Living Future Institute Zero Carbon certification, and local sourcing of 75% of food service ingredients from Seattle-area farmers.

Amazon sustainability chief Kara Hurst responded to queries about the expenditure by saying the arena sponsor "isn't the only thing we're doing" about climate change. The company has not disclosed how much it paid for the sponsorship rights, but says it will retain them for around a decade at minimum.

John Mackey, CEO of Whole Foods Market, an Amazon subsidiary, is a member of The Motley Fool's board of directors. Rhian Hunt has no position in any of the stocks mentioned. The Motley Fool owns shares of and recommends Amazon and recommends the following options: short January 2022 $1940 calls on Amazon and long January 2022 $1920 calls on Amazon. The Motley Fool has a disclosure policy.

Invest Smarter with The Motley Fool

Join Over 1 Million Premium Members Receiving…

  • New Stock Picks Each Month
  • Detailed Analysis of Companies
  • Model Portfolios
  • Live Streaming During Market Hours
  • And Much More
Get Started Now

Stocks Mentioned

Amazon.com, Inc. Stock Quote
Amazon.com, Inc.
AMZN
$113.78 (-3.01%) $-3.53

*Average returns of all recommendations since inception. Cost basis and return based on previous market day close.

Related Articles

Motley Fool Returns

Motley Fool Stock Advisor

Market-beating stocks from our award-winning analyst team.

Stock Advisor Returns
329%
 
S&P 500 Returns
106%

Calculated by average return of all stock recommendations since inception of the Stock Advisor service in February of 2002. Returns as of 09/24/2022.

Discounted offers are only available to new members. Stock Advisor list price is $199 per year.

Premium Investing Services

Invest better with The Motley Fool. Get stock recommendations, portfolio guidance, and more from The Motley Fool's premium services.