FanShot

Sacramento Kings file $8.3 million claim against Power Balance in bankruptcy court

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Key points: 1. Kings could lose $8.3 million if Power Balance sponsorship falls apart 2. Kings filed a claim in U.S. Bankruptcy Court for $8.3 million, which is the amount still owed 3. $200,000 will be the cost to remove all signs of Power Balance 4. Hanyang LLC scrapped its deal with the Kings, Tyreke Evans and other athletes 5. Sponsorship rights to be paid were $975,000 in year 1, $1.53 million in year 2, $1.9 million in year 3, $2.25 million in year 4 and $2.35 million in year 5. 6. Kings have collected only $700,000 of $975,000 from its first year deal I never liked the idea of replacing ARCO Arena with Power Balance Pavilion. I honestly hated it and look forward to removing anything that has to do with Power Balance.

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