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Power Balance to file bankruptcy, not leaving Sacramento

Nov 22, 2011, 1:04 PM EDT

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I’m not going to tell you that the Power Balance wristbands favored by NBA players and other pro athletes are a scam, I’d say do the research. Don’t just ask Lamar Odom, actually do the research.

Or, consider the fact the company just had to file bankruptcy organization after settling a class action lawsuit against them for $57.4 million. Although the company says a more recent settlement was for only $1 million and it is business as usual, they are even launching a new mouthguard product. Again, decide for yourself.

All this does not mean that the Kings current arena in Sacramento will change names, reports the Sacramento Bee. It will still be the Power Balance Arena if the Kings play any games there this season. The Kings released this statement to the Bee:

“They have been good partners since day one and are understandably taking steps to put the company in a position to continue innovation in the performance technology sector. They have assured us of their commitment to the Sacramento Kings and the surrounding community and we expect to continue our productive partnership through this process and into the future.”

Tom Ziller at Sactown Royalty summed it up well — what do you expect the Kings to do, kick to the curb one of the few companies that stepped up to be a sponsor? The Celtics and Knicks can be picky about sponsors, the Kings cannot right now.

But if/when the Kings get a new arena built in Sacramento, you can bet it will have different naming rights.

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