The $9.1 billion Golden 1 Credit Union in Sacramento boasted Tuesday that it became the first cooperative in the nation to sign a naming rights deal for a major league professional sports venue that will reportedly cost $120 million over 20 years.
California's second largest cooperative by assets acquired the naming rights for a $477 million arena, the home of the NBA's Sacramento Kings, which will be named Golden 1 Center and is scheduled to open October 2016.
Reaction to the deal was mixed, based on comments posted on Golden 1's Facebook Page. The naming rights announcement received more than 320 likes as of Wednesday morning. However, while some members praised the deal, others denounced it.
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