LOS ANGELES – Seventeen-time NBA Champions, the Los Angeles Lakers and AEG, the owners of STAPLES Center, have signed a long-term lease extension agreement ensuring that the defending World Champions will remain in their downtown Los Angeles home arena through the 2041 season.
Since beginning their first season on November 3, 1999 at the iconic venue, the Lakers have achieved the most successful two decades in franchise history, posting both regular season (987-780) and playoff (139-79) records during that time on the way to winning six NBA championships, including last season’s record tying 17th title in the NBA bubble.
Separately, AEG and the Lakers confirmed their plans to make a wide array of significant capital improvements and upgrades throughout STAPLES Center.
“We are excited to extend our partnership with AEG. 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, Governor, Los Angeles Lakers. 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 organization could ask for.”
“When we began developing STAPLES Center, AEG had a singular goal — to create a showplace venue that would become the heart of sports in Los Angeles, home to the best franchises, events and fans,” said Dan Beckerman, CEO and President, AEG. “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 epicenter for sports and entertainment, delivering the most exciting events in the world.”
“The true winners today and for the future are our incredible fans, the greatest fans in all of professional sports,” said Tim Harris, President of Business Operations, Los Angeles Lakers. “For more than 20 years, Dan, Lee, and everyone on the arena’s staff has continually shared our vision and commitment to delivering first-class experiences to our players and our fans.”
“I couldn’t be more thrilled with today’s announcement and want to thank all of my colleagues who have played such important roles in creating so many unforgettable sports and entertainment moments in our arena,” said Lee Zeidman, President of STAPLES Center, Microsoft Theater and L.A. LIVE. “For the past two decades, along with hosting 11 championship seasons achieved by the Lakers, Kings and Sparks, STAPLES Center and LA LIVE have helped drive the revitalization of downtown, bringing millions of fans to Los Angeles each year. Our planned renovations combined with the new Laker championships that are destined to be in our future, mean that the best is yet to come.”