Chesapeake Conflict of Interest Seen in Thunder Playoffs: Energy
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Chesapeake Energy Corp., whose top executive invested in the Oklahoma City Thunder, almost doubled its spending on the professional basketball team during the past four years buying tickets, luxury box seats and naming rights for the home arena.
Chesapeake directors are under pressure to investigate conflicts between Aubrey McClendon’s duties as chief executive officer and his personal finances, which include a 19.2 percent stake in the Thunder. New York City pension funds, which own 1.9 million Chesapeake shares, complained this month about the company’s spending on the National Basketball Association squad.