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.
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.
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.
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.