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Islanders' new arena snags largest naming rights deal in NHL history

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TJ Tucker
July 22, 2020  (1:35 PM)
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A report states the naming rights to the New York Islanders new arena have been sold and the deal is worth more than any other for a standalone NHL arena in the league's history. According to Sports Business Daily, the rights to Belmont Park Arena and development on Long Island have been sold to Swiss investment bank UBS for a whopping $350 million over 20 years.

The deal is worth $17.5 to $18 million annually and has incentives related to the team's performance that could push the deal's total value to nearly $400 million according to SBD's sources. UBS also gets entitlement to the largest premium club in the arena as part of the deal.

Belmont Park Arena, or UBS arena as it will now be known, is expected to be completed in time for the Islanders to start playing there at the beginning of the 2021-2022 season. It is a $1.3 billion multi-purpose arena, development and horse racing track. The facility's capacity for hockey games will be just over 17,100, while concerts will be able to hold close to 18,900 spectators.

It still isn't clear where the Islanders will play during the 2020-21 season. The team was slated to move back into Nassau Coliseum until UBS Arena was ready, but Nassau's operating company recently announced the facility would close indefinitely due to challenges brought on by the COVID-19 pandemic. No further announcement has been made on where the Islanders will play. The team has played home games at Barclay's Centre in Brooklyn, but that relationship is no longer in place.

Source: Sports Business Daily