The Golden State Warriors reached a
10-year agreement Friday to sell the naming rights to their arena to
Oracle Corp., the large San Francisco 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 McAfee 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, Calif., 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.
