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If approved, the coffee giant could join FedEx, Little Caesars and Barclays as a corporate sponsor of a stadium or arena. Companies are willing to shell out big bucks for the brand awareness and fan loyalty that can come from a high profile venue bearing the company name. Last year, Amazon reportedly spent between $ 300 million and $ 400 million on the rights to an arena in Seattle, now called the Climate Pledge Arena.
A Starbucks spokesperson said the company has no further details to share beyond the June 2 filing.
According to the filing, Starbucks is seeking permission to use its name to promote “third party commercial, sporting and entertainment events” and to provide “stadiums and training facilities for sporting and entertainment activities.”
Trademark attorney Josh Gerben noted the filing on Friday on Twitter, saying that this is how a company would file a trademark application if it seeks to obtain the naming rights for a stadium.
Starbucks shares were roughly flat in morning trading. The stock has risen 5% this year, giving it a market value of $ 132 billion.