Sacramento Kings Losing Major Sponsors Weeks Before Season Opener
SACRAMENTO (CBS13) - It's a money meltdown for the Sacramento Kings as their biggest sponsor is splitting, and they're not the only ones.
One of the Kings' most loyal corporate sponsors is taking a bite out of the owners' already rickety revenue structure.
Carl's Jr. once touted them as billionaire brothers in an ad campaign, but now the fast food company tells CBS13 that its cravings for the Maloofs are over.
"Carl's Jr. is not seeking naming rights for the arena in Sacramento. While we have sponsored the Kings in the past, we will not be renewing our team sponsorship this season," a company statement read.
CBS13 has learned the Maloofs are only offering companies one-year sponsorship deals, no long-term commitments. As a result, some of the local companies who came together in a $10 million sponsorship pledge last year are also out.
Sutter Health tells CBS13, "Our sponsorship was a business decision, and we've decided to apply our marketing dollars elsewhere at this time."
The Kings will also lose sponsorship dollars from Buzz Oates Group of Companies and Synergex.
"Sponsors are looking to be associated with an enterprise that's respected and successful," said Assemblyman Roger Dickinson.
Dickinson blames the Maloofs' reneged negotiations for the business backlash, the most recent after Mayor Kevin Johnson's effort to build an arena at the railyards.
"People in Sacramento want to know that the ownership cares and is committed to Sacramento. There's no indication that that's the case," said Dickinson.
NBA basketball in Sacramento is back for another season. Yet again, the question continues: Will it be the last?
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