Arent Fox Advises Amazon in Naming Rights to Climate Pledge Arena
Amazon is calling it the Climate Pledge Arena. Sports Practice Leader Richard L. Brand led a team from Arent Fox that included Intellectual Property Partner Luna M. Samman and Corporate & Securities Associate Wesley T. Gee.
In a statement, Amazon noted that, “In 2019, Amazon and Global Optimism announced The Climate Pledge, which calls on signatories to be net zero carbon across their businesses by 2040—a decade ahead of the Paris Agreement. With significant investment from Amazon and Oak View Group, the venue 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.”
Amazon added that the arena will be the first in the world “targeting net Zero Carbon certification by the International Living Future Institute (ILFI), a leading non-profit organization dedicated to advancing sustainable building practices.” In addition, the “arena will have all-electric operations and be powered with 100% renewable electricity, both from on-site solar panels and off-site renewable energy. Events at the arena will be made fully net zero carbon through investments in forestry projects with organizations such as The Nature Conservancy that will sequester any remaining carbon emissions from arena operations.”
This transaction is just the latest naming rights agreement handled by Arent Fox. Recent highlights include:
- Representing LA Stadium and Entertainment District at Hollywood Park in a record breaking naming rights and sponsorship transaction on the new SoFi Stadium, the future home of the Los Angeles Chargers and the Los Angeles Rams
- Counseling Mercedes-Benz in a naming rights and sponsorship transaction with the Atlanta Falcons and Atlanta United FC for Mercedes-Benz Stadium
- Advising the Miami Dolphins in an 18-year stadium naming rights agreement with Hard Rock International for Hard Rock Stadium
- Counseling the San Francisco 49ers in a naming rights and sponsorship transaction with Levi Strauss & Co. for Levi’s Stadium
- Serving as outside counsel to the Seattle Seahawks and First & Goal Inc. in a renewal of the stadium naming rights transaction with CenturyLink, Inc.
- Advising Brooklyn Arena, LLC and the then-New Jersey Nets in connection with the Barclays Center naming rights transaction
- Counseling Golden 1 Credit Union in a naming rights and sponsorship transaction with the Sacramento Kings for the Golden 1 Center
From coast to coast, Arent Fox’s Sports practice boasts one of the most experienced and diverse teams in the country, with clients spanning individuals, organizations, and teams involved with major league, minor league, and Olympic sports and Games.