Power Balance in trouble

[Mike0476]

From Sports Biz Radio's Twitter.

"Several sources tell me Power Balance fighting 2 stay afloat. They've laid off more than 1/2 their staff since Aprl. Kings arena name rights

Had my concerns when Power Balance signed naming rights deal for Sac Kings arena. Don't c how they make payments in future."

http://twitter.com/SBRadio

 

[Fear the Putin]

finally the magic bracelet scam will die

 

[Capt. Factorial]

If anything, this is a good thing. If Power Balance defaults on their side of the naming rights agreement, it gives an opportunity for a bigger player (Comcast? Yeah? Yeah?) to step in with a better offer. Considering the enthusiasm behind the team right now, I think that a more lucrative agreement could be negotiated - and one that could be tied toward a new arena as well.

I'm more and more of the opinion that the whole Power Balance deal was something that rhymes with "hand rag" and the sooner it is over, the better.

 

[Section 101]

They were never a real naming rights deal. It was all part of the move to anaheim.

 

[Glenn]

finally the magic bracelet scam will die

Good! It's an embarrassing name on an arena and does NOTHING to change the so far negative view of Sacramento as a city in the NBA. Any reputable company would be nice but Comcast has a nice sound to me especially with their willingness to renegotiate their deal wth the Kings.

 

[Larry David]

Gee. Who saw this coming?

 

[kennadog]

Just means MSE will have to find another business to agree to a naming right deal, if Power Balance can't keep up with the contractual obligations.

 

[hrdboild]

Yeah, not much of a surprise there. If there was scientific proof that their product actually does what it's supposed to do they might have had some staying power but that's not the case. It might actually be easier to get a new naming rights contract drawn up once there's a firm deadline for when they're moving into the new arena.

 

[kennadog]

Yeah, not much of a surprise there. If there was scientific proof that their product actually does what it's supposed to do they might have had some staying power but that's not the case. It might actually be easier to get a new naming rights contract drawn up once there's a firm deadline for when they're moving into the new arena.

It will be much easier with a new arena. Unfortunately, that's could be 3 or so seasons before that's available. They need money during those years.

 

[Warhawk]

It will be much easier with a new arena. Unfortunately, that's could be 3 or so seasons before that's available. They need money during those years.

Yeah, but if there is an agreement to build a new facility, they can maybe work out a reduced rate for the next couple years and bump it with the new building or something. The key item is to get a plan put together and funding arranged. Then everything else will fall into place with that certainty.

 

[hrdboild]

Yeah, I was referring to the current arena actually. When Arco's naming rights ended, it was uncertain how long the current building was still going to be used or even if the Kings would stay in Sacramento for much longer. That makes it difficult to hash out a longterm contract. But if we have a plan in place for the new arena to be completed let's say by the start of the 2014 season (optimistic I know) -- then you can shop around for a three year naming rights deal on the current building with the security of knowing a timetable has been set and the team will be in this current building for X number of years.

 

[Spike]

They were never a real naming rights deal. It was all part of the move to anaheim.

We don't agree often, but we agree on this one.