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SMALL BUSINESS
Staples Center name to stick permanently at arena
AP ONLINE
posted: 40 DAYS 18 HOURS AGO
FRAMINGHAM, Mass. (AP) — Office products company Staples Inc. said Monday it is extending naming rights for the Staples Center, which is owned by AEG, a sports and entertainment company.
Specific financial terms were not disclosed, but Staples paid a previously negotiated fee that extends Staples' naming rights permanently.
Staples had the naming rights to Staples Center since the area opened in Los Angeles in 1999.
The Staples Center is the home of the NBA Lakers and the Clippers, among other teams. The Staples Center has also hosted numerous concerts by artists including Paul McCartney, Taylor Swift, and Justin Timberlake.
Shares of Staples rose 28 cents to $23.49 in afternoon trading.
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