The team is well known, successful and has a history of playing on national television. It is one of the few teams that is capable of attracting sponsors on a national scale.
The coronavirus will restrict the number of fans who can be in the arena at any one time. Less fans will mean less revenue from game day operations for Oklahoma City. There will need to be another revenue stream to make up this deficit.
Earlier this year, Chesapeake Energy—one of the chief partners of the Thunder—filed for bankruptcy and went under Chapter 11 protection. The company faced mounting debts and it became more difficult for the firm to continue as a going concern.
It is never nice to hear about people losing their jobs and incomes. It could also result in harder times for the Thunder as a healthy business. Chesapeake Energy has enjoyed a close relationship with the Thunder due to McClendon owning a significant stake in both entities. However, the relationship goes deeper. Chesapeake Energy agreed a naming rights deal with the Thunder organization in It was a natural fit that made a lot of sense at the time on a sentimental level. The strongest aspects of Oklahoma sports and business were represented together on every national broadcast.
The financials of the naming rights deal was relatively small. Professional Basketball Club LLC will have to look at finding another sponsor to pick up the naming rights to the arena.
The economy of the NBA has exploded over the last five years. The ESPN television contract was the spark that lit a boom period.
During the boom, the price of sponsorship has gone up massively. In , the Washington Wizards agreed a naming rights deal with Capital One. The Thunder have an identity and history which commands such a price.
The Thunder have consistently been a winning team that plays entertaining basketball. Brands like to associate with winning organizations and will pay a premium to do so. The Thunder face a lot of challenges in the micro economic environment but these challenges are manageable. However, the macro environment for the Thunder may be trickier to deal with. The coronavirus has led to millions of dollars being lost in revenue by the NBA.
The lack of home games will mean that teams such as the Thunder will have missed out on a significant amount of game day revenue. In recent years, we have seen people such as Steve Ballmer and Joe Tsai purchase teams.
These owners can tap into billions of dollars in resources. Money is no object for them. The franchise is a real business for the ownership group and the team has to be in a robust financial position. He needs the team to be profitable or his personal finances will take a hit. The Thunder would be able to survive this problem if this issue was in isolation. The suspension of broadcasts meant that the league lost a lot of money.
When he was seen, fans were shocked by his appearance as he had lost a lot of weight, had a thin face, and an obvious scar on his head. Some people mistakenly believe that Clay Bennett is the sole owner of the Oklahoma City Thunders, and he took much of the brunt when he moved the team to Oklahoma from Seattle, which was its original home. However, he is one of seven primary owners, with none of them owning more than a 19 percent stake in the business, says The Oklahoman.
The other primary owners of the team include Jeff Records Jr. This was recognized by Oklahoma Today when they named him their Oklahoman of the Year in While Clay Bennett has achieved many accolades, not everyone is a fan of this businessman. In fact, he was listed with Aubrey McClendon as one of the top 15 worst owners in sports by Rolling Stone. This was a move that caused uproar amongst fans and that Rolling Stone described as a despicable act.
This is through his various business ventures, including his ownership of the Oklahoma City Thunder. He was first appointed to the board in and was reappointed in Although he has various business commitments, Clay Bennett is also a family man.
The couple was high school sweethearts as they met when she was a freshman and he was a sophomore. Gaylord, an Oklahoma City media mogul.
The couple has three children together; two daughters and a son. Their son is called Graham, and their two daughters are called Christine and Mollie.
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