Starbucks CEO Kevin Johnson speaks during the company’s annual shareholders meeting at the WAMU Theater on March 20, 2019 in Seattle, Washington.
Stephen Brashear | Getty Images
Starbucks applied to the US Patent and Trademark Office in early June for the right to use its name in stadiums or training facilities.
If approved, the coffee giant could belong to FedEx, Little Caesars, and Barclays as a corporate sponsor of a stadium or arena. Businesses are ready to spend big bucks on brand awareness and fan loyalty that can be derived from a high profile venue bearing the company’s name. Last year, Amazon reportedly spent $ 300 million to $ 400 million on the rights to an arena in Seattle that is now called the Climate Pledge Arena.
A Starbucks spokesman said the company had no further details to reveal beyond the June 2 filing.
According to the application, Starbucks is seeking approval to use its name to “promote business, sports and entertainment events for others” and to provide “stadium and training facilities for sports and entertainment activities”.
Trademark attorney Josh Gerben took note of the filing on Twitter on Friday, saying that a company would file such a trademark application if it wanted the naming rights to a stadium.
Starbucks shares were roughly unchanged in morning trading. The stock is up 5% this year and has a market value of $ 132 billion.