Arco Arena Loses Sponsorship Deal; New Venues Go Without

After almost a quarter-century, the Arco name will be removed from the arena that is home to the NBA's Sacramento Kings - forcing the struggling team to scramble in tough times to find a replacement sponsor. The Sacramento Bee reports that although the Kings' contract with the Arco oil company (now owned by embattled BP) expires in February, company officials will keep the Arco Arena name in place through the end of the 2010-11 season.

"We are deeply appreciative of the historic 24-year run we enjoyed with our friends at Arco," Kings co-owners Joe and Gavin Maloof said in a statement issued Monday. "This was one of the original, pioneering naming-rights partnerships in major league sports and entertainment." Sources estimate the deal brought the Kings between $700,000 and $750,000 in annual income.

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