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Golden 1 secures naming rights at Sacramento Kings’ new home

Californian-based financial services company Golden 1 Credit Union has secured a long-term arena naming-rights deal with NBA basketball team Sacramento Kings.

The Kings’ new home arena is scheduled to open in time for the 2016-17 NBA season and will be known as the Golden 1 Center under a 20-year deal.

Under the terms, Golden 1 members will benefit from access to venue tours, advanced ticket purchases and discounts on merchandise. Golden 1 will host a flagship branch at the arena, which forms the centrepiece of an extensive urban regeneration project in Sacramento.

Sacramento Kings owner and chairman Vivek Ranadive said: “We’ve said all along that our commitment to Sacramento is bigger than basketball. This is more than a naming rights announcement. We chose Golden 1 because they share our vision for the future of Sacramento, and together, we’ll invest in the community to grow into the next great American city its citizens deserve.”

Financial details were not disclosed, although the Sacramento Bee newspaper reported that Golden 1 will pay the Kings $120m (€109.9m) over the course of the agreement.

As a result of the partnership, Golden 1 becomes the first credit union in the country to secure the naming rights for a major league professional sports venue.