SBD/November 22, 2011/Facilities

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  • Power Balance Will Honor NBA Kings Naming-Rights Deal Despite Bankruptcy Filing

    Both Power Balance and Kings said that they expect to continue their partnership

    Power Balance LLC said that “it is keeping its commitments to the Sacramento Kings despite the wristband maker’s bankruptcy restructuring,” according to Kelly Johnson of the SACRAMENTO BUSINESS JOURNAL. Power Balance Pavilion “has been the name of the Kings' arena since March and officials with the Kings and Power Balance don’t expect that to change.” Power Balance reps said that litigation against the company forced them “to file for Chapter 11 protection under the U.S. Bankruptcy Code last week.” Officials said that the company “is not going out of business.” Power Balance will “keep its commitments to retailers, consumers and the Kings” (BIZJOURNALS.com, 11/21). In Sacramento, Ryan Lillis writes it is “not clear what impact the Chapter 11 bankruptcy reorganization filing will have on the Kings or their quest for a new arena, but the news comes at a bad time for the team.” A list of Power Balance debts filed “includes $100,000 owed to the Kings.” Still, Power Balance and Kings officials said that they “expect to continue their business partnership” (SACRAMENTO BEE, 11/22).

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  • Facility Notes

    In Minneapolis, Kevin Duchschere notes the Twins Friday announced that they "plan to spend more than $1.3 million in the off-season to spruce up Target Field with more photos and displays, new carpet and flooring, an improved wi-fi network and a revamped ballpark menu." Twins President Dave St. Peter told the Minnesota Ballpark Authority Friday that the team "plans to submit a bid by the end of the year" for the All-Star Game (Minneapolis STAR-TRIBUNE, 11/19).

    POWER PLAY: In London, Quinn & Ruddick reported EPL club Chelsea Owner Roman Abramovich has "held discussions with the lenders to Battersea Power Station about taking control of the site as part of his plans to move" the club to the London facility. Reports indicate that the lenders "to the landmark power station prefer Mr. Abramovich's plans above others also vying for control of the site." Abramovich is "believed to have explored creating a new leisure and retail complex alongside a new Chelsea stadium at the power station" (London TELEGRAPH, 11/20).

    VIP TREATMENT
    : In Indianapolis, Carrie Ritchie reports the NFL "plans to transform Union Station into a high-end gathering place for special guests leading up to Super Bowl XLVI." Dubbed "NFL House," the train station will "cater to the NFL's special guests, such as team owners and sponsors." The Crowne Plaza hotel "will cater the food and supply the entertainment." The NFL also is "considering bringing in celebrity chefs to do cooking demonstrations and celebrity bartenders to serve drinks." Indianapolis Super Bowl Host Committee Chair Mark Miles said, "It's sort of all-out hospitality" (INDIANAPOLIS STAR, 11/22).

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