NBA’s Oklahoma City Thunder Arena Named Paycom Center in 15-Year Deal

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Oklahoma City Thunder of the National Basketball Association has signed a 15-year arena naming rights agreement with software company Paycom, and the downtown sports complex will be called Paycom Center.

Paycom is a publicly traded company based in Oklahoma that sells human resources and payroll software; its clients include the New England Patriots of the National Football League. Paycom is traded on the New York Stock Exchange and has a market cap of $23.6 billion.

The terms of the pact with the Thunder have not been disclosed, but the deal will not go beyond $100 million. Industrial company Chesapeake Energy previously had the arena’s name but quashed the deal after bankruptcy in June 2020. That deal was worth about $34 million and paid the Thunder $3 million per season.

In a statement, Thunder owner Clay Bennett said the team aligns with Paycom’s “prospects,” adding, “We look forward to presenting our new arena partner, Paycom, to the (National Basketball Association) global audience.”

The deal begins with the upcoming season, has signage in the arena, including the arena scoreboard and basketball court. On Monday, city officials approved a change to the outdoor signage on the arena’s roof and will create a lighting plan for additional brand awareness.

The deal is the latest of several sporting name sponsorships.

On Monday, the New Orleans Saints announced a 20-year $138 million deal with Caesars Entertainment. As a result, the iconic stadium is now called the Caesars Superdome.

Earlier this month, the Phoenix Suns secured a new arena name with engineering firm Footprint, and in June the Miami Heat agreed to a 19-year arena naming rights deal of $135 million with crypto firm FTX.

NBA arena sponsorships typically cost seven figures a year, and sports partnership consulting firm IEG notes that agreements can run as high as $30 million a year.

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