SACRAMENTO, Calif. -- The Sacramento Kings will have a new name for their arena.

The team announced a deal Tuesday to form a multiyear marketing partnership with Power Balance and rename Arco Arena the Power Balance Pavilion. The name change will be official March 1.

Power Balance is most famous for its popular wristbands and pendants worn by athletes such as Shaquille O'Neal and David Beckham. The company recently admitted there is no credible scientific evidence behind claims that its products improve balance, strength and flexibility.

The company began selling bracelets in 2007 embedded with holograms that were purportedly designed to interact with the body's natural energy flow. The company sold $8,000 of merchandise in its first year and projected more than $35 million in sales in 2010.