10 Disasters in Stadium Naming Rights
Chesapeake Energy Arena
Home of: The Oklahoma City Thunder (NBA)
Cost of naming rights: $3 million a year
Chesapeake (CPK - Get Report) slapped its name on Oklahoma City's arena less than a year ago and is already getting buyer's remorse.
Just after the company bought the naming rights in June, its share price started sliding and has dropped about 50% in the past year. Dirt cheap natural gas hasn't helped the company's bottom line, but neither has CEO Aubrey McClendon's SEC investigation. It turns out shareholders like to be told when their chairman gets a stake in well drilling and uses it to take out more than $1 billion in loans.
McClendon's stint as company chairman ended before the Thunder's playoff run. If they beat the Lakers and advance, will Chesapeake's name still be on the building in the next round?
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts