Staples Center will be named for the office-supply store forever and ever and ever, apparently.
Staples has struck a deal to buy naming rights for Staples Center in perpetuity, extending the original 10-year naming-rights deal.
The terms of the deal, save the part about it being struck for as long as the arena is open, were not released, but a press release issued by Staples says this is the first naming-rights deal for an arena to run in perpetuity. The original naming-rights deal struck in 1997 was $116 million for 20 years; we're assuming the new deal calls for a much lower yearly rate.
Staples Center is home to the Los Angeles Lakers (NBA) and Los Angeles Kings (NHL).
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