Starbucks applies for stadium, arena naming rights
The company filed an application with the U.S. Trademark Office on June 2
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Coffee giant Starbucks Corporation sought registration this month for potential stadium or training facility naming rights.
The company filed an application with the U.S. Trademark Office on June 2 to use its name on a venue to "promote business, sports and entertainment events of others" and to provide "stadium and training facilities for sports and entertainment activities," according to the filing.
A spokesperson for the coffee chain declined to comment.
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A number of other major U.S. corporations have successfully sought stadium naming rights including AT&T for AT&T Stadium in Texas, Bank of America for Bank of America Stadium in Charlotte, North Carolina, FedEx for FedEx Field near Washington, D.C., Anheuser-Busch for Busch Stadium in St. Louis and Barclays for Barclays Center in Brooklyn, New York.
The benefits of acquiring naming rights include promoting a brand through free advertising.
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Companies have paid millions of dollars for stadium naming rights deals, some of which last for years. For example, Levi Strauss signed a deal valued at $220 million with the NFL’s San Francisco 49ers for 20-year rights, as reported by ESPN.
MetLife Insurance inked a $400 million deal for 25-year rights to the stadium that the NFL’s Jets and Giants play at, according to ESPN.
The NBA's Golden State Warriors are getting an estimated $22 million per year for San Francisco's Chase Center, according to Forbes.
Starbucks has a market cap of more than $132 billion, while shares ended Friday’s trading session slightly higher.
| Ticker | Security | Last | Change | Change % |
|---|---|---|---|---|
| SBUX | STARBUCKS CORP. | 101.51 | -0.95 | -0.93% |
As noted by several other news outlets, the application filed by Starbucks is how companies would proceed to acquire rights to name a stadium according to a trademark specialist.