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The energy company has partnered with the Oklahoma City Thunder for the naming rights to the downtown arena where the team plays its games.
Originally known as the Ford Center, then the Oklahoma City Arena, it
will now be known as the Chesapeake Energy Arena. Chesapeake CEO Aubrey
McClendon is one of the team’s owners.
The deal gives Chesapeake naming rights for 12 years in
exchange for an initial annual cost of $3 million with an annual escalation of
3 percent, the Thunder and Chesapeake report.
“On behalf of the entire Thunder organization, we are extremely proud to enhance our already strong partnership with Chesapeake Energy,” said Thunder Chairman Clayton I. Bennett (pictured) in a prepared statement. “Besides being a leader in the national and international energy industry, Chesapeake is a dynamic business and community leader in Oklahoma. Together with the Thunder’s commitment to the community, it makes the naming rights partnership a perfect fit. The Thunder looks forward to many exciting years ahead playing in Chesapeake Energy Arena in downtown Oklahoma City.”
Chesapeake’s blue flame logo will be splashed throughout the arena including on the basketball court, name placement on the scoreboard, and on new interior and exterior digital signage. The company plans to have the signage up by the start of the team’s 2011-2012 season. Currently, the NBA players are locked out by team owners and the start of the upcoming season is still uncertain. The arena is closed through October for taxpayer-funded improvements. It is owned by the city and managed by SMG.
“The Chesapeake Energy Arena and the Thunder are both strong reminders of the incredible progress our city has made in the past decade as well as the energy our citizens have demonstrated to keep building an even better and stronger Oklahoma City in the years ahead,” said Martha A. Burger, Chesapeake’s senior vice president of human and corporate resources, in a prepared statement. “The naming rights also provide a powerful natural gas branding opportunity for our company, particularly when you consider the national, and even global, reach of the Thunder.”