The Chesapeake Energy Arena is being renamed following the emergence of Chesapeake Energy from its recent Chapter 11 bankruptcy.
The Oklahoma City Thunder made the announcement Tuesday morning on its website stating it was focused on identifying a new long-term naming rights partner and in the interim, the building would continue to be called the Chesapeake Energy Arena.
“As we move toward a transition to a new naming rights partner for our arena, we would like to recognize our extraordinary history with Chesapeake Energy,” said Clayton I. Bennett, chairman of the Oklahoma City Thunder. “For a decade, the arena has proudly bore its name and we thank Chesapeake, one of our founding partners, for its loyal support and partnership.
“As Chesapeake Energy Arena, our building has been home to so many exciting and historic moments and events. As we look to forge a new partnership for naming rights, we will identify a partner who will help build on that history and be the centerpiece of our growing, modern and vibrant downtown environment,” Bennett said.
“We have greatly appreciated our long-standing partnership with the Thunder, and while our commitment to restoring our balance sheet and increasing our competitiveness required us to terminate our naming rights agreement, as proud Oklahomans, we will continue to strongly support the team,” said Doug Lawler, CEO of Chesapeake Energy.
“While we advance toward a future of full events and games inside our arena, we are excited at the possibilities ahead to align with a new partner to be a significant component of that growth and join the Thunder to continue to bring awareness of our city and state to the NBA global audience,” said Will Syring, vice president of Corporate Partnerships for the Thunder. “This is more than just a name on a building, it’s a partnership built on common principles of leadership, forward-thinking vision and community impact.”
In addition to Thunder games, the arena hosts numerous concerts, sporting and other world-class events
Chesapeake Energy obtained the naming rights in 2011 and had a 12-year agreement. The arena opened in 2002 and for 8 years was known as the Ford Center. It was called the Oklahoma City Arena from 2010 to 2011 until Chesapeake Energy won the naming rights.
