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Ohio Utica Shale

Chesapeake owns a piece of NBA Thunder

By Bob Downing Published: June 14, 2012

Inquiring minds want to know:

Chesapeake Energy Corp. is one of the five founding partners in the Oklahoma City Thunder, the National Basketball Association team.

The energy giant was identified in a press release from the team issued last summer when Chesapeake acquired naming rights for the basketball team's arena.

The release identified Chesapeake as a founder of the NBA team, along with two other Oklahoma-based energy companies, a bank and the local newspaper.

Chesapeake last summer signed a 12-year deal to have the arena named the Chesapeake Energy Arena.

The price: $3 million a year and the price escalates by 3 percent per year.

Click  here  to read the team's press release.

The Thunder is playing the Miami Heat for the NBA title.

 

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