NBA OKC Thunder arena to be called Paycom Center in 15-year contract

The National Basketball Association’s Oklahoma City Thunder has entered into a 15-year arena naming rights deal with software company Paycom, and the downtown sports complex will be called Paycom Center.

Paycom is an Oklahoma-based public company that sells human resources and payroll management software; his clients include the New England Patriots of the National Football League. Paycom is listed on the New York Stock Exchange and has a market capitalization of $ 23.6 billion.

Terms of the pact with the Thunder were not disclosed, but the deal does not exceed $ 100 million. Industrial company Chesapeake Energy previously owned the arena name, but scuttled the deal after filing for bankruptcy in June 2020. The deal was worth around $ 34 million and paid the Thunder $ 3 million per season.

In a statement, Thunder owner Clay Bennett said the team is aligned with Paycom’s ‘future vision’, adding: “We look forward to introducing our new arena partner, Paycom, to the global public. (National Basketball Association) “.

The deal begins with the upcoming season, has signaling assets in the arena, including the arena scoreboard and the basketball court. On Monday, city officials approved a change to the exterior signage on the roof of the arena and will create a lighting plan for additional brand exposure.

The deal is the latest of several sports name sponsorships.

On Monday, the New Orleans Saints announced a 20-year, $ 138 million deal with Caesars Entertainment. As a result, the iconic stadium is now called the Caesars Superdome.

Earlier this month, the Phoenix Suns secured a new arena name with engineering firm Footprint, and in June, the Miami Heat struck a $ 135 million arena naming rights deal on 19 years with the crypto company FTX.

Sponsorships of NBA arenas typically cost seven figures per year, and sports partnership consultancy IEG notes that deals can be as high as $ 30 million per year.