Baskonia Caja Laboral of the Spanish ACB and the Euroleague will be changing its name this Sunday and will now be called Laboral Kutxa. The rebranding comes after the club took on a new sponsor in the form of Kutxa, a savings bank based in Spain meaning Baskonia will now bear the names of its two most prominent sponsors to be known as Laboral Kutxa.
A few weeks back Caja Laboral announced that it extended its current sponsorship deal with Spanish bank Laboral until 2015. As the main financial backer, Laboral funds the Saski Baskonia Vitoria team and owns the ACB giant. However the club has taken on a new sponsor in the form Kutxa and as a part of the deal the branding will appear as a part of the team name.
The latest name is the newest in the history of Saki Baskonia. The team is based in Vitoria, Spain was known as C.D. Basconia from its 1959 inception to 1983. After that the club was Caja Alava until 1986 when it was purchased by Spanish ceramics company Taulell. The new ownership named the club Taugrés Baskonia or Tau Ceramica Baskonia until 2009 when the club was purchased by Laboral and renamed Caja Laboral Vitoria before now becoming Laboral Kutxa.