Arent Fox Counsels Golden 1 Credit Union in Historic Naming Rights Partnership with the Sacramento Kings
Partnership negotiations on behalf of Golden 1 were led by Sports leader Richard L. Brand. The agreement is one of the most innovative naming-rights partnerships for a single-tenant NBA arena, with tailored and unique benefits for Golden 1 members, including access to venue tours, Fast Pass line access at concession stands, advanced ticket purchases, and discounts on merchandise and games.
"For more than 80 years, Golden 1 Credit Union has been investing in people by helping them make the most of their money and achieve their dreams," said Golden 1 President and Chief Executive Officer Donna Bland. "The Golden 1 Center partnership demonstrates our continued commitment and investment in the people and future of Sacramento, while also advancing our ability to provide our members throughout California with more auto loans, affordable home loans, free checking and so many other valued and convenient financial services. Our future, our members' future, and our communities’ future are one. We appreciate the great work of Richard Brand and the entire Arent Fox team."
Mr. Brand counseled the Sacramento-based Golden 1 Credit Union on the corporate and intellectual property aspects of the agreement. The team included Corporate & Securities leader Steven A. Cohen and Intellectual Property partner N. Christopher Norton. The Golden 1 Credit Union partnership with the Kings is the most recent in a string of notable naming rights transactions handled by Arent Fox, which last month was recognized by the leading global referral guide Legal 500 as its “Sports Practice of the Year.”
Arent Fox is well-known for its experience in representing both the team/arena side and the naming rights partner/sponsor side of sponsorship and naming rights transactions. Several examples include advising the San Francisco 49ers in a naming rights and sponsorship transaction with Levi Strauss & Co., the largest such transaction in the history of the West Coast; serving as counsel to the Brooklyn Events Center and the Brooklyn Nets in connection with the Barclays Center naming rights transaction, the largest arena naming rights and team sponsorship transaction in the history of sports; representing PPL EnergyPlus, LLC in the PPL Park naming rights and sponsorship transaction with the Philadelphia Union; and advising Albertsons, LLC, an Idaho-based supermarket chain, in connection with the naming of Boise State’s football stadium to Albertson’s Stadium.
Mr. Brand, recognized as a leading sports attorney by Chambers USA, Legal 500 and US News & World Report, focuses on naming rights, media rights, acquisitions of professional sports franchises, sponsorships, arena/stadium licenses, executive contracts, concession agreements, suite and club seat licenses, and financings for teams and facilities. He also represents numerous professional teams in all facets of their operations.
From coast to coast, Arent Fox boasts one of the most experienced and diverse sports law practices in the country, with clients spanning individuals and team sports in major league, minor league and amateur sports. The group regularly advises companies and organizations in football, baseball, basketball, tennis, cycling, hockey, soccer, wrestling, collegiate and high school sports and the Olympics on a wide array of issues, including those involving acquisitions and sales of teams, property and event companies, financings, media and technology agreements, intellectual property matters, and naming rights and other sponsorship transactions.