SBD/November 22, 2011/Facilities

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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