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article imageInternet retailer takes name off Oakland's outdoor sports stadium

By Nathan Salant     Apr 4, 2016 in Business
Oakland - Internet retailer has dropped its paid-for right to put the O.Co name on the outdoor sports stadium in Oakland, Calif.
Overstock had one year remaining on its six-year, $1.3 million naming-right contract with the public agency that owns the Coliseum and Oracle Arena, which share the same property in southwestern Oakland.
Oakland Coliseum is the home of the Oakland Athletics baseball team and the Oakland Raiders football team; Oracle Arena, which bears the name of a computer company under a similar naming-rights contract, is the home of the basketball Golden State Warriors.
Athletics' spokeswoman Catherine Aker said Overstock opted out of its name contract on Saturday but still maintains other sponsorship links with the baseball team.
The split was amicable, she said, according to the San Francisco Chronicle newspaper.
"They've always been able to terminate the contract if they wanted," said Scott McKibben, executive director of the Oakland-Alameda County Coliseum Authority.
“Like a lot of corporations, they sit back and look at their sponsorships and marketing efforts and came to the conclusion they wanted to go in another direction," McKibben said.
The outdoor and indoor arenas were extensively remodeled in 1995 and 1996.
The outdoor Coliseum was the scene of three World Series championships in succession for the Oakland Athletics from 1972-1974 and also was home field for the A's 1989 World Series championship in a series interrupted by the Loma Prieta earthquake.
The hometown Raiders won Super Bowl titles in 1976, 1980 and 1983, but played in Los Angeles from 1982 to 1995 but returned to Oakland and played in the Super Bowl in 2002.
The Warriors are the reigning National Basketball Association champions.
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