The Kings made the announcement a short while ago:
The Sacramento Kings have just announced a new naming rights deal for the building formerly known as Arco Arena turned Power Balance Pavilion. While negotiations with local mattress retailer Sleep Train collapsed last month when the Maloof family refused to guarantee the Kings would stay in Sacramento past this season, the two sides returned to the table and hammered out today’s announced deal.
It’s a multi-year agreement, and apparently the new signage will be up in November. Personally I will have no trouble calling it Sleep Train Arena. Lots of “sleep” related jokes can be made as well. Let’s just hope they are more along the lines of “The exciting Kings put a sleeper hold on the Memphis Grizzlies tonight” and not like “The woeful Kings looked like they were sleepwalking tonight”…
(hat tip: Cowbell Kingdom)