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Kings Investors Unaffected by Lockout

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(Sacramento, CA)
Tuesday, October 11, 2011

The National Basketball Association has scrapped the first two weeks of its 2011 season.  That is going to cost everyone involved with the Sacramento Kings, except for the businesses that pledged those millions to help keep the team here.

Sacramento Mayor Kevin Johnson says the city kept the lockout in mind when it went asking for corporate sponsorships.   

JOHNSON:  "One of our discussions with them was we're going to protect you, so that as we move forward it's about a good faith effort and commitment on both sides .  If there's not a season or the season is shortened then they're going to modify their partnership agreement and their sponsorship.  So, it's going to be pro-rated based on how many games are there."

Businesses pledged the money to show the NBA Sacramento has a strong corporate community.  Those businesses can also defer their payments until next year, or opt out of any sponsorship entirely.   The mayor's office says he has not been contacted by any business wishing to opt out or defer their payments.   

For the approximately 800 people who work at Power Balance Pavilion, the lockout means the loss of as many as four days of work unless the NBA dates can be filled on short notice.   

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