While there is some positive light on a potential deal in a lockout, the Sacramento Bee reports this morning that deals between the franchise and sponsors could be on the fritz if things don’t resolve themselves soon:
It was a vital part of Sacramento’s crusade to keep the Kings in town – the $10 million in corporate sponsorships pledged for the 2011-12 season.
Now the Kings might have to give some of that money back.
The NBA player lockout has complicated the Kings’ relationship with their corporate patrons, particularly those that responded to Mayor Kevin Johnson’s frenzied appeal last spring. Thirty-two companies stepped up to lease arena billboards and luxury suites, buy blocks of tickets and otherwise support the team.
With two weeks of games already canceled, and much of the rest of the season in jeopardy, the team is talking to sponsors about refunds, “make-goods” and other concessions.
So far nobody has asked for their money back, and the discussions “have been positive,” said team spokesman Chris Clark. But some sponsors are getting antsy.
From a financial standpoint, it’s difficult to blame the companies and corporations. In a perfect world they’d be able to continue their deals but without some type of return until normal activities resume, but the loss of a season could put the already financially crippled Maloofs into a bigger mess.
Hopefully enough progress will be made soon where this becomes a mute point. One can hope, right?
Now where did I put that Magic 8Ball…..