The Sacramento Kings have announced a new naming rights deal for the building formerly known as Arco Arena turned Power Balance Pavilion. While negotiations with local mattress retailer Sleep Train collapsed last month when the Maloof family refused to guarantee the Kings would stay in Sacramento past this season, the two sides returned to the table and hammered out today’s deal.
According to Cowbell Kingdom contributor Rob McAllister, the agreement is a five-year contract.
“Our hope is that Kings stay here a long time,” Sleep Train founder Dale Carlsen told McAllister. “(There’s) no guarantee but we are looking to be a sponsor for a long time.“
SACRAMENTO, CALIF., Oct. 15, 2012 – The Sacramento Kings and Sleep Train Mattress Centers today announced a new, multi-year strategic marketing partnership to include venue naming rights for the Sacramento Kings home arena, host to hundreds of events annually—headlined by NBA basketball, high-profile concerts, family-themed shows and cultural experiences.
“On behalf of the entire Sacramento Kings organization, we are thrilled to partner with Sleep Train,” said Kings President of Business Operations Matina Kolokotronis. “We’re particularly excited to align with a locally owned company built on 27 years of customer satisfaction, a stellar reputation among consumers and business leaders, and an unwavering commitment to community involvement.”
The venue currently known as Power Balance Pavilion will officially become Sleep Train Arena in November. Financial terms of the agreement were not announced.
Read the entire press release here.
Updated at 2:43 pm PT.