Tag: Power Balance

Arco Arena

Sacramento Arena could be renamed the “Sleep Train”


Because the Kings and their fans have not suffered enough indignities in recent years….

Next year we could hear “Live from the Sleep Train Arena, we bring you Sacramento Kings basketball.”

The Kings currently play in the Power Balance Arena (formerly Arco Arena), an outdated building that is at the heart of the Maloof family’s efforts to move the team (they just don’t have enough support from the other owners yet).

Power Balance — the makers of those little wrist bands that purport to help your balance but have led to numerous fraud lawsuits — came on last season as the arena sponsor. But they have filed bankruptcy (they had some huge settlements to pay out) and has pulled out of its arena naming deal.

So the Maloof family is looking for a new arena sponsor, reports the Sacramento Bee.

Sleep Train Mattress Centers said Tuesday it’s negotiating with the Sacramento Kings for naming rights to the team’s arena. The Rocklin-based retailer is one of several companies talking to the Kings about naming rights.

Kings co-owner Joe Maloof confirmed the team is in negotiations for a replacement for Power Balance. He said the Kings’ marketing staff is handling the talks and he had no information about which companies are in the running. The team declined to comment further.

It could be good PR for a Sacramento-area company to jump in and say, “we’re here to help the King stay in town” even though they really have no control over the situation. Sleep Train (with 250 mattress and bed stores on the West Coast) could be that company.

Meanwhile, we all keep waiting for the Maloofs — who have worked to kill pretty much every new arena plan in the city — to announce how they have to move the team to… Anaheim or wherever. For financial reasons.

Until then, everybody on board the Sleep Train.

Power Balance name may come off Sacramento Arena

Arco Arena
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The Kings stood by Power Balance when the company filed bankruptcy. Because the Kings can’t turn their back on anybody who might give them money right now.

But it looks like the Kings will not be seeing any more money from Power Balance and the company name may come off the Sacramento arena where the Kings play, reports CSNBayArea.com.

The Sacramento Bee is reporting that Power Balance LLC, which filed for bankruptcy protection last month, will likely be sold as a result and court papers say the potential buyer isn’t interested in maintaining the marketing deal with the Kings…

It is possible that Hanyang LLC, the company reported as the frontrunner to buy Power Balance, could retain the contract with the Kings, or another company could outbid Hanyang and keep the current naming deal with the Kings intact.

Power Balance makes wristbands for athletes that are supposed to provide more balance and strength, but there are very serious questions about the validity of the company’s claims.

The Kings will not be in this arena long, one way or another. The city of Sacramento has until March to come up with a viable plan for a new arena and a way to finance it or the Maloof Brothers, who own the Kings, will pretty much be given free rein to move the team to Anaheim. The Maloofs wanted to do that last year but the other owners blocked the move to give Sacramento one more chance to get a new building (something that was smart business due to the lockout).

Power Balance owes Kobe Bryant, Kings big money

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Power Balance — the makers of those wrist bands that a number of NBA players wear — has settled a class action lawsuit that said they were crap. There have been a few of those lawsuits and a lot of legal fees. Andnow the company is filing bankruptcy.

Which is mostly interesting to me because of who is on the creditors list — the people who want to get paid as Power Balance reorganizes under Chapter 11.

On the list: Kobe Bryant, Lamar Odom, Blake Griffin and the Sacramento Kings, according to the Orange County Register.

…and a bankruptcy court filing shows an entity representing Bryant is now a creditor against Orange County-based Power Balance for $400,000.

Clippers star Blake Griffin, who does endorse the company in which the Lakers’ Lamar Odom is a minority investor, is owed $20,000, according to the. Also on the list of biggest creditors are the Los Angeles Kings ($250,491), Sacramento Kings ($100,000) and skateboarder Ryan Sheckler ($25,000).

The Sacramento Bee adds that the NBA’s Kings are unsecured creditors. Not that they’re in a place to turn down what, if any, money flows their way. Power Balance will remain the name on the Sacramento Arena where the Kings will play this season, whenever there is a season.

Power Balance wants you to know that the company is coming out of Chapter 11 just fine and will have a new mouthguard product coming on the market soon. They should try to pay Kobe in mouthguards. Yea, that will work.

Power Balance to file bankruptcy, not leaving Sacramento

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I’m not going to tell you that the Power Balance wristbands favored by NBA players and other pro athletes are a scam, I’d say do the research. Don’t just ask Lamar Odom, actually do the research.

Or, consider the fact the company just had to file bankruptcy organization after settling a class action lawsuit against them for $57.4 million. Although the company says a more recent settlement was for only $1 million and it is business as usual, they are even launching a new mouthguard product. Again, decide for yourself.

All this does not mean that the Kings current arena in Sacramento will change names, reports the Sacramento Bee. It will still be the Power Balance Arena if the Kings play any games there this season. The Kings released this statement to the Bee:

“They have been good partners since day one and are understandably taking steps to put the company in a position to continue innovation in the performance technology sector. They have assured us of their commitment to the Sacramento Kings and the surrounding community and we expect to continue our productive partnership through this process and into the future.”

Tom Ziller at Sactown Royalty summed it up well — what do you expect the Kings to do, kick to the curb one of the few companies that stepped up to be a sponsor? The Celtics and Knicks can be picky about sponsors, the Kings cannot right now.

But if/when the Kings get a new arena built in Sacramento, you can bet it will have different naming rights.

Shaq, Odom sued over Power Balance bracelet endorsement

balance bracelets Shaquille O'Neal

Shaquille O’Neal and Lamar Odom both wear Power Balance bracelets during games. Maybe because they both believe in the product, but it turns out they are also both paid celebrity endorsers of said product.

Now they are being sued over it, part of a class action suit according to RadarOnline.com (via Lakers Nation).

Shaquille O’Neal and Lamar Odom endorse a bogus “performance technology” bracelet that wrongfully claims to “optimize the body’s natural energy flow,” according to a federal class action lawsuit filed against the pair….

But according to lead plaintiff Brian Casserly, the $79.95 bracelet is “nothing short of snake oil”. He is seeking statutory and punitive damages for consumer fraud, false advertising, unfair competition and unjust enrichment.

“Despite defendants’ representations that the hologram with enhance consumers’ ‘strength, balance and flexibility,’ it is biologically incapable of doing so,” the lawsuit states.

Let’s be clear: Putting Shaq and Odom in this lawsuit is a publicity stunt. It’s about embarrassing the company to get a settlement. Ultimately it’s not about the NBA players, it’s about getting money out of the California company and its owners (Josh and Tony Rodarmel and Keith Kato, who also all are named in the lawsuit).

To put it kindly, the Power Balance bracelet is a controversial product. The company sells wristbands that  “use holographic technology” to “work with your body’s natural energy field” to improve balance and athletic performance.

Laugh if you want — and you probably should, the company had to admit a lack of scientific data, or just watch this video taking down the Power Balance in-person sales pitch — but a lot of NBA players wear these. The Phoenix Suns Jared Dudley tweeted a while back that the Phoenix Suns training staff is a backer of it, but Manu Ginobili called it a “placebo.” Which shows is that Manu is smart off the court, too.

The Power Balance connection to the NBA is not going anywhere, however — the company just signed a five-year naming rights deal in Sacramento for what had been known for decades as ARCO Arena. Which means more years of debating if a hologram on your wrist helps your balance.

If the guys in the Power Balance marketing department believe in the old “any publicity is good publicity” adage then they have been killing it lately.