Los Angeles Lakers extend Staples Center stay until 2041

Los Angeles Lakers extend Staples Center stay until 2041

New lease agreement with AEG includes major improvements and upgrades to venue.

  • Posted: May 28 2021
  • By: Ed Dixon

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  • Lakers have played at Staples Center since 1999
  • Franchise’s initial 25-year lease was slated to expire three seasons from now

National Basketball Association (NBA) champions the Los Angeles Lakers have signed a long-term lease extension that will see the franchise remain at their Staples Center home until the 2041 season.

The agreement with Anschutz Entertainment Group (AEG), owner of Staples Center, will take the Lakers’ stay at the venue beyond the 40-year mark, having played at the arena since November 1999.

The announcement also ends any chance of the Lakers exiting Staples Center in order to build their own facility. The franchise’s 25-year lease was slated to expire three seasons from now.

In addition, AEG and the Lakers confirmed their plans to make a wide array of significant capital improvements and upgrades throughout Staples Center as part of the extension.

“Staples Center ranks as one of the best arenas in the world to play and watch basketball and we are thrilled to be able to call it home for another two decades,” said Jeanie Buss, the Lakers’ controlling owner and governor. 

“The decision was made first and foremost with our fans and players in mind and AEG’s commitment to investing significant capital in the arena means that the Lakers will continue to play in one of the world’s premier venues. From the very beginning, AEG proved to be more than just the best arena operators in our industry, and on a daily basis they continue demonstrating why they are the best partner an organisation could ask for.”

Dan Beckerman, chief executive and president of AEG, added: “There is no doubt that our partnership with the Buss Family and the Lakers solidified the arena’s legendary status from the beginning and brought some of the most memorable moments in sports and entertainment history to fans.

“We look forward to another 20 years of our successful partnership with the Lakers and believe that the investments we are making will ensure that Staples Center remains the epicentre for sports and entertainment, delivering the most exciting events in the world.”

On the court, the Lakers next face the Phoenix Suns on 30th May in game four of their first-round playoffs series. The Lakers currently hold a 2-1 lead.

comment@sportspromedia.com May 28, 2021 at 07:53PM

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