Amazon has acquired the naming rights to Seattle’s revamped arena. But what is more significant about the deal is that the online retail giant will not display its brand name at the stadium.
Amazon founder Jeff Bezos has announced that the stadium will be called Climate Pledge Arena as a “regular reminder of the urgent need for climate action”.
The venue formerly known as KeyArena is being rebuilt and is expected to be “the first net zero carbon certified arena in the world and set a new sustainability bar for the sports and events industry,” stated a Press release.
Bezos further added the arena won’t generate any waste and will use reclaimed rainwater “to create the greenest ice in the NHL”. It also will be all electric and powered with 100% renewable energy from both solar panels onsite and off-site renewable energy.
Amazon and Oak View Group have partnered in investing in the arena rebuilding.
“There is no question that the state of our planet is a critical issue for all of us,” said Tim Leiweke, CEO of Oak View Group. “We have a responsibility to future generations to try to leave them with a better world. We love that Amazon is using its naming rights for a cause we care deeply about. … Our goal is to be the most progressive, responsible, and sustainable venue in the world. It is not just about one arena — it’s a platform for us to step up and heal our planet.”
The 18,100-seat venue, which sits in the shadow of the Space Needle, is expected to host 200 events each year, including sports, entertainment and civic programs. The renovation is budgeted at $930 million.
Last year, Amazon partnered with Global Optimism to form The Climate Pledge, which calls on businesses to sign it and vow to make their companies net zero carbon by 2040.
Financial terms for the naming rights deal were not announced.