Sacramento Kings' New Arena to Be Named Golden 1 Center

The Sacramento Kings announced an agreement Tuesday with Golden 1 Credit Union for the naming rights to their new arena, which will now be known as the Golden 1 Center.  

An official release posted on the team's site notes the sides agreed to a 20-year partnership for the complex with an expected opening in the fall of 2016. Kings owner and chairman Vivek Ranadive discussed the overall impact of the deal, per the release:

"

We've said all along that our commitment to Sacramento is bigger than basketball. This is more than a naming rights announcement. We chose Golden 1 because they share our vision for the future of Sacramento, and together, we'll invest in the community to grow into the next great American city its citizens deserve.

"

The Kings also passed along remarks from current Sacramento mayor and former NBA All-Star Kevin Johnson about the agreement:

Financial terms of the naming rights partnership weren't included in the announcement.

Sacramento is moving into the new complex from the Sleep Train Arena in 2016. Its current home opened in 1988, meaning it will have been operating for 28 years when the team moves out.

Golden 1 Center provided a mock up of how the new space will look:

The release notes the new arena will hold a 35-year expected lifespan and will generate an estimated $11.5 billion in economic activity during that time frame. Along with housing the Kings, it's slated to become a year-round destination for "world-class art and entertainment."

Although the Kings still have one more season before completing the move, this was a major step in the process. It's clear both the franchise, community leaders and the new naming partners are hopeful about the widespread impact the center can have once completed.

Now, the team's front office has to continue working on a roster that finished 13th in the Western Conference this season so the Kings can become a contender as quickly as possible after moving into their new home.