Lakers Announce Extension Of Lease With Staples Center Through 2041
Kirby Lee-USA TODAY Sports

Ahead of the first playoff game for the Los Angeles Lakers at Staples Center since 2013, the team sent out a press release to announce the extension of the partnership with AEG to continue playing at the iconic arena through 2041.

Lakers president and team owner Jeanie Buss made the following statement about the continued partnership with AEG and the team staying put for the next two decades.

“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.”

This announcement comes at an interesting time for the Staples Center, with the Los Angeles Clippers expected to move to a brand new arena in Inglewood in 2024. Steve Ballmer and company plan to break ground on their new Inglewood Basketball and Entertainment Center at some point this year.

The Clippers building a new arena led to speculation about what the Lakers had planned for the immediate future. Although iconic and a landmark in downtown Los Angeles, the Staples Center has become outdated compared to other new arenas around the NBA or even in the city of Los Angeles or California, for that matter.

The Los Angeles Rams and Chargers now called the state-of-the-art SoFi Stadium their new home, while the Golden State Warriors debuted the Chase Center last season in San Francisco. Both of these venues are considered the cream of the crop in the NBA and NFL and have set the bar high for future NBA arenas and NFL stadiums.

Renovations involved in lease extension

With the Staples Center being over 20 years old, renovations for the dated arena are part of the plan moving forward, as the president of the arena, Lee Zeidman, makes clear in the press release.

“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.”

It’ll be interesting to see what these “planned renovations” will be and what kind of experience Lakers fans can look forward to at the Staples Center for the next two decades.

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