OAKLAND, Calif., Oct. 21 (UPI) -- Oracle Corp., the California software company, has purchased renaming rights for the Oakland Arena for the next decade.
The home of the Golden State Warriors is to be known as The Oracle, Inside Bay Area reported. The team and company announced the arrangement Friday.
"We welcome the opportunity to align ourselves with the Oracle brand," Warriors President Robert Rowell said in a statement. "The Warriors are rapidly progressing toward our goal of becoming a championship organization."
Neither party released details of the financial arrangements. But Inside Bay Area, citing sources, said Oracle is reported to have agreed to pay between $20 million and $30 million over a decade -- with more than $1 million every year going to both the Warriors and the Oakland-Alameda County Coliseum Authority.
