Arco Arena will be no more, as the 25-year naming-rights deal to the home of the Sacramento Kings (NBA) will expire in February and the name will come off the arena at the end of the upcoming NBA season.
Arco Oil Company, a subsidiary of BP, bought the naming rights 25 years ago. At the time it was a major deal, yielding between $700,000 and $750,000 annually for the Kings. But it was soon overshadowed by much larger naming-rights deals; FedEx, for example, pays $4.5 million annually for arena naming-rights in Memphis.
It’s not clear how much the Kings can get for a new naming-rights deal, especially given that the arena’s days are clearly numbered when it comes to the Kings, who have worked hard for a new arena elsewhere in the city.
Sign up for the free weekly Arena Digest newsletter and keep up with the latest happenings! You can sign up here.