The $9.1 billion Golden 1 Credit Union in Sacramento boasted June 16 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 the morning of June 17. However, while some members praised the deal, others denounced it.
Continue Reading for Free
Register and gain access to:
- Breaking credit union news and analysis, on-site and via our newsletters and custom alerts.
- Weekly Shared Accounts podcast featuring exclusive interviews with industry leaders.
- Educational webcasts, white papers, and ebooks from industry thought leaders.
- Critical coverage of the commercial real estate and financial advisory markets on our other ALM sites, GlobeSt.com and ThinkAdvisor.com.
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
