Oklahoma City Thunder in search of new arena sponsor

Chesapeake Energy will no longer be the title sponsor of the Chesapeake Energy Arena

The Oklahoma City Thunder are in search of a new title sponsor for their home arena. 

Per a report from ESPN's Royce Young, Chesapeake Energy terminated their 12-year sponsorship agreement as a part of their bankruptcy process the company started last June.

The Thunder are in the process of acquiring new naming rights for Chesapeake Energy Arena. Chesapeake (the company) is terminating their agreement effective immediately. While they work to secure new naming rights, it’ll still be known as Chesapeake Energy Arena.

— Royce Young (@royceyoung) April 20, 2021

"As we move toward a transition to a new naming rights partner for our arena, we would like to recognize our extraordinary history with Chesapeake Energy,” said Clayton I. Bennett, chairman of the Oklahoma City Thunder, in a press release. “For a decade, the arena has proudly bore its name and we thank Chesapeake, one of our founding partners, for its loyal support and partnership."

In the interim, there will be no change to the name of the arena while the Thunder attempt to negotiate a new naming rights agreement.