Amazon has agreed a deal to acquire the naming rights to Seattle’s KeyArena, which will become known as Climate Pledge Arena as part of plans to create the world’s first carbon-zero sports venue.
Financial terms and the duration of the agreement have not been formally disclosed but it has been revealed that talks over the deal, which was first reported by Sports Business Journal (SBJ) back in January, began around a year ago.
According to report by VenuesNow, which cites unnamed sources, the total value of the deal 'runs between US$300 million and US$400 million, which places Climate Pledge Arena among the richest deals for a big league arena.'
KeyArena is due to reopen in the summer of 2021 after a US$930 million renovation project spearheaded by the Oak View Group (OVG), and will play host to Seattle’s new National Hockey League (NHL) expansion franchise as well as the city’s Women’s National Basketball Association (WNBA) team, the Storm.
Commenting on the deal, Amazon founder and chief executive Jeff Bezos said the Seattle-based internet giant chose the name Climate Pledge Arena “as a regular reminder of the importance of fighting climate change”, adding: “We look forward to working together with Oak View Group, a new Climate Pledge signatory, and NHL Seattle to inspire global climate action.”
Last September, Amazon and climate advocacy group Global Optimism launched the Climate Pledge initiative, whose signatories must commit to becoming net zero carbon across their businesses by 2040. As such, companies are obliged to disclose their greenhouse gas emissions and implement sustainability strategies to improve energy efficiency, use renewable energy and reduce wastage.
More recently, the world's largest online retailer created The Climate Pledge Fund, a new investment programme that will channel an initial US$2 billion into startups developing sustainable technologies across various industries.
According to Tod Leiweke, the chief executive of Seattle’s NHL franchise, the revamped Climate Pledge Arena, which is expected to host 200 events each year, will aim to produce zero waste, source food locally and eliminate all single-use plastics by 2024.
As well as using reclaimed rainwater in its ice system, the 18,100-seat arena will be powered entirely with renewable electricity, some of which will be produced by on-site solar panels. All operations and events at the arena will also use compostable containers, with a minimum of 95 per cent of all waste diverted from landfills.
“There is no question that the state of our planet is a critical issue for all of us,” Leiweke said in a statement. “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—this partnership is a visionary step for the facilities business and sport and music industries.
“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.”
Amazon’s naming rights deal comes after Amazon Web Services (AWS) chief executive Andy Jassy invested in Seattle’s NHL ownership group back in September 2018.
Amazon has agreed a deal to acquire the naming rights to Seattle’s KeyArena, which will become known as Climate Pledge Arena as part of plans to create the world’s first carbon-zero sports venue.
Financial terms and the duration of the agreement have not been disclosed but it has been revealed that talks over the deal, which was first reported by Sports Business Journal (SBJ) back in January, began around a year ago.
KeyArena is due to reopen in the summer of 2021 after a US$930 million renovation project spearheaded by the Oak View Group (OVG), and will play host to Seattle’s new National Hockey League (NHL) expansion franchise as well as the city’s Women’s National Basketball Association (WNBA) team, the Storm.
Commenting on the deal, Amazon founder and chief executive Jeff Bezos said the Seattle-based internet giant chose the name Climate Pledge Arena “as a regular reminder of the importance of fighting climate change”, adding: “We look forward to working together with Oak View Group, a new Climate Pledge signatory, and NHL Seattle to inspire global climate action.”
Last September, Amazon and climate advocacy group Global Optimism launched the Climate Pledge initiative, whose signatories must commit to becoming net zero carbon across their businesses by 2040. As such, companies are obliged to disclose their greenhouse gas emissions and implement sustainability strategies to improve energy efficiency, use renewable energy and reduce wastage.
More recently, the company created The Climate Pledge Fund, a new investment programme that will channel an initial US$2 billion into startups developing sustainable technologies across various industries.
According to Tod Leiweke, the chief executive of Seattle’s NHL franchise, the revamped Climate Pledge Arena, which is expected to host 200 events each year, will aim to produce zero waste, source food locally and eliminate all single-use plastics by 2024.
As well as using reclaimed rainwater in its ice system, the 18,100-seat arena will be powered entirely with renewable electricity, some of which will be produced by on-site solar panels. All operations and events at the arena will also use compostable containers, with a minimum of 95 per cent of all waste diverted from landfills.
“There is no question that the state of our planet is a critical issue for all of us,” Leiweke said in a statement. “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—this partnership is a visionary step for the facilities business and sport and music industries.
“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.”
Amazon’s naming rights deal comes after Amazon Web Services (AWS) chief executive Andy Jassy invested in Seattle’s NHL ownership group back in 2018.
