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By Dale Kasler and Tony Bizjak
dkasler@sacbee.com
Published: Tuesday, Jan. 11, 2011 - 2:01 pm
Last Modified: Tuesday, Jan. 11, 2011 - 2:52 pm
The maker of Power Balance sports wristbands has reached a tentative agreement to take over naming rights at Arco Arena.
A source with knowledge of the deal told The Bee that Power Balance LLC has made a tentative agreement for a five-year deal.
Arco's agreement runs out after the end of the NBA season, ending a 25-year relationship. Its departure leaves the Maloof family, which owns the team and the building, searching for a replacement in a down economy.
Arco has paid the team an estimated $700,000 a year for the rights; terms of the Power Balance deal weren't immediately known.
Spokesmen for the Kings and Power Balance had no comment on the deal, which was originally reported by the Sactown Royalty fan Web site. Team sources told The Bee Monday that the Kings would announce a new naming rights partner on Thursday.
Power Balance, based in Laguna Niguel, is a $35 million-a-year maker of trendy silicone wristbands worn by such athletes as Lamar Odom of the Los Angeles Lakers and soccer star David Beckham. The company has run into some controversy; its Australian website recently posted a statement saying there's no "credible scientific evidence" supporting the company's claims about the health effects of the wristbands. But the company quickly issued a statement defending the products.
