Complex sentence: One trend that the arena has not partaken in is that of selling its naming rights to a sponsor; it is one of four NBA arenas that has not done so, and just one of eight basketball arenas owned by their respective NBA franchise.
Split into simpler sentences: One trend that the arena has not partaken in is that of selling its naming rights to a sponsor; it is one of four NBA arenas that has not done so. The Palace is just one of eight basketball arenas owned by their respective NBA franchise.