Friday, October 20, 2006
Oracle agrees to buy Warriors' arena naming rights
OAKLAND, Calif. -- The Golden State Warriors reached a 10-year agreement Friday to sell the naming rights to their arena to Oracle Corp., the large Bay Area software maker.
The Arena at Oakland will be renamed the Oracle under the undisclosed financial terms of the deal, which also includes elements of team sponsorship.
The Warriors have attempted to sell naming rights to their arena for several years but repeatedly failed to find a suitable buyer.
The arena opened next door to the Coliseum -- home of the Oakland Athletics and Oakland Raiders -- in 1966, but the San Francisco Warriors didn't move permanently across the Bay until 1971. The arena underwent an extensive renovation before the 1997-98 season and hosted the 2000 NBA All-Star Game.
Oracle, based in Redwood City, is headed by Larry Ellison, a billionaire sports fan who has spoken of his desire to buy the San Francisco 49ers or another franchise.
The Joint Powers Authority -- a coalition of local governments that runs the arena -- is expected to approve the deal next month.