Framingham, Mass. Staples and AEG, a leading sports and entertainment presenter, announced that Staples has elected to extend its naming rights agreement for the AEG-owned, Staples Center in Los Angeles, one of the nation’s leading sports and entertainment arenas.
With Staples paying a previously negotiated fee, its original 20-year naming rights agreement will now be extended in perpetuity. This arrangement creates the first lifetime naming rights extension for a major-market arena.
Staples has owned the naming rights to Staples Center since the arena’s opening in October 1999 as part of the company’s original agreement with AEG. The 10th year of this agreement included an option for a naming rights extension.