Sponsors fleeing Maloofs amidst uncertainty over Kings’ future
How much would you pay for the right to advertise with a basketball team that refuses to guarantee where it will be a year from now?
If you’re mattress maker Sleep Train and hamburger purveyor Carl’s Jr., the answer is nothing.
Those are the reports coming out of Sacramento from the well-connected Carmichael Dave, who once hosted his own radio show for the Kings’ flagship radio station 1140 The Fan. Dave was mysteriously let go after becoming critical of the Maloof family, after George Maloof torched a viable arena deal in Sacramento last April. Dave has since started his own radio show.
Sleep Train was in talks with the Kings for naming rights of the arena formerly (and still to many) known as Arco Arena.
Carl’s Jr., perhaps the most prominent sponsor for the team, was at the center of controversy when the Maloofs released an advertisement for their $6,000 burger combo meal – flaunting their $1 billion net worth while asking the city of Sacramento to pick up much of the tab on an arena in 2006.
Sutter Health, a large Health Maintenance Organization in the Sacramento area, is also out.
Sources have told ProBasketballTalk that about half of the team’s sponsors have decided not to renew their packages, and Dave reports that several of the team’s larger sponsors are “on the rocks,” including Thunder Valley Casino and VSP Vision Care.
Dave also reports that beverage sponsors are concerned that the Maloofs’ new vodka drink might get preferential treatment at the arena.
Everything in this unfortunate saga centers on the Maloofs, who either have to cut a deal with Sacramento similar to the one that the NBA negotiated on their behalf last fall, or try their luck moving the franchise. Should they sell, there will be no shortage of suitors in Sacramento and around the nation.
Surely, the other 29 NBA owners have to be tired of cutting these guys a revenue sharing check.