OKLAHOMA CITY -- The Thunder said Tuesday that Chesapeake Energy Corp. has terminated its arena naming rights agreement.
The move was effective immediately, though the team said the name will remain until a new partner is found. The original 12-year agreement was announced in 2011, but the Thunder said the company had made its decision as part of a restructuring.
The Thunder became a Western Conference power while playing home games at Chesapeake Energy Arena, fueled by All-Stars Kevin Durant and Russell Westbrook. The arena known locally as "The 'Peake" hosted the 2012 NBA Finals and three Western Conference finals under that name.