Chesapeake Energy Corporation Files For Bankruptcy

Post #1 » by **RealGM Wiretap** » Mon Jun 29, 2020 5:31 am

The Chesapeake Energy Corporation filed for Chapter 11 bankruptcy on Sunday due to the drop in oil prices and gas demands during the pandemic.

The company was co-founded by the late Aubrey McClendon, a founding owner of the Thunder.

Chesapeake Energy signed a 12-year deal in 2011 for the naming rights to the arena that the Thunder play in.

The deal cost $3 million in 2011 and increased 3% each season.

It is not known how the bankruptcy will affect the naming rights for the arena.

Via Royce Young/ESPN

Cassius · Post #2 » by **Cassius** » Mon Jun 29, 2020 12:14 pm

Mr. Silver, please move the team back to Seattle. It was a fun ride, but with a trove of refreshed assets and a pandemic that will make it very difficult for the Thunder to stay solvent, it's time to end the expirement and correct the wrongs of the previous administration.

- Management

RipCityKJ · Post #3 » by **RipCityKJ** » Mon Jun 29, 2020 2:00 pm

Cassius wrote:Mr. Silver, please move the team back to Seattle. It was a fun ride, but with a trove of refreshed assets and a pandemic that will make it very difficult for the Thunder to stay solvent, it's time to end the expirement and correct the wrongs of the previous administration.

- Management

Lol so they go from an arena named after an oil company to an arena named the Climate Pledge Center?

WestbrookGOATed · Post #4 » by **WestbrookGOATed** » Mon Jun 29, 2020 2:18 pm

Cassius wrote:Mr. Silver, please move the team back to Seattle. It was a fun ride, but with a trove of refreshed assets and a pandemic that will make it very difficult for the Thunder to stay solvent, it's time to end the expirement and correct the wrongs of the previous administration.

- Management

Never gonna happen 8-)

Post #5 » by **Cactus Jack** » Mon Jun 29, 2020 5:30 pm

I'm shocked!

Post #6 » by **Cactus Jack** » Mon Jun 29, 2020 5:32 pm

RipCityKJ wrote:
Cassius wrote:Mr. Silver, please move the team back to Seattle. It was a fun ride, but with a trove of refreshed assets and a pandemic that will make it very difficult for the Thunder to stay solvent, it's time to end the expirement and correct the wrongs of the previous administration.

- Management

Lol so they go from an arena named after an oil company to an arena named the Climate Pledge Center?

A true feel good story. You might say! :wink: