SACRAMENTO, CA, January 11, 2011 -- Maloof Sports & Entertainment (MS&E) and Power Balance today announced a new, multi-year strategic marketing partnership to include venue naming rights for the Sacramento Kings home arena, local retail incentive programs and cross-platform integration across the Maloof family’s diverse portfolio of properties and events.
"We are thrilled to be partners with Power Balance,” said Kings co-owners Joe and Gavin Maloof. "This is a great collaboration for the entire Kings franchise and we are particularly excited in this economy to be able to sign a multi-year agreement with a company on Power Balance’s trajectory."
Power Balance is one of the hottest new brands in the sports performance market and will support MS&E, the Kings and the NBA in their initiatives to improve health and wellness across the Sacramento community. MS&E and Power Balance will be actively supporting the league's comprehensive health and wellness program that encourages physical activity and healthy living for children and families through grassroots programs and events, products and promotional opportunities. The partnership creates a platform for Power Balance to meet consumers on a personal level to experience their products first-hand while engaged in activities they enjoy. MS&E secured a five-year agreement with the young company, which CNBC recently selected as “Sports Product of the Year” for 2010.
“Our intention with Power Balance was to establish a partnership that would raise the bar for traditional naming rights deals,” said Matina Kolokotronis, President of Business Operations for the Kings. “We understood their desire to create a broad platform for extending the Power Balance brand and delivering great products and brand experiences to Kings fans and beyond. Aligning the positive message of wellbeing embodied by the Power Balance brand with the Kings and our ability to integrate Power Balance products throughout our arena, NBA Fit initiatives, the Sacramento community and in Las Vegas was an ideal fit from the very first conversations.”
Opened in 1988, the soon-to-be-named Power Balance Pavilion will host nearly 200 events and serve nearly two million guests annually, with media coverage including the Sacramento region as well as national and international media.
“The Maloof organization presented a unique opportunity to bring together Power Balance’s young and hungry brand with a youthful and talented NBA team. We are excited to work together to activate new community and wellness-focused events to engage people in multiple markets,” said Troy Rodarmel, CEO and co-founder of Power Balance. “The level of creative energy and commitment on the part of MS&E for this alliance takes this way beyond a typical naming rights deal. This is a true strategic partnership that includes a revenue-share component based on the success of the program, which presents a win-win for both Power Balance and MS&E.”
Los Angeles-based corporate development firm, Double Eagle, was engaged by MS&E in October to develop a naming rights valuation model and secure a naming rights sponsor.
“Once we quantified the value of the opportunity, we saw Power Balance as an ideal partner for Maloof Sports & Entertainment,” said Peter Clemente, President of Double Eagle. “They’re a unique company with an exceptional management team experiencing meteoric growth in the performance technology space. Partnering with an organization like MS&E and the Kings is a win-win for both partners and their respective constituents.”
The venue officially becomes Power Balance Pavilion on March 1, 2011. Financial terms of the partnership were not disclosed.
About Maloof Sports & Entertainment:
Owned by the Maloof family with long-term, local partners, the organization is committed to being a contributing member of the Sacramento community. Teaming up with local leaders and non-profit organizations to give back to those in need throughout the region, MS&E has donated millions of dollars to charity in 11 years of Maloof family ownership. For more information about Maloof Sports & Entertainment, please visit kings.com or call 916-928-0000.
About Power Balance:
Power Balance was created out of the principal that the founders wanted everyone, no matter what their level of activity, to maximize their potential and live life to the fullest. Made by athletes for athletes, Power Balance is a favorite among elite competitors, weekend warriors and every day fitness enthusiasts who are looking to feel their best and find that extra edge. For more information please visit, www.powerbalance.com.
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