Arent Fox Advises LA Lakers on Extension of STAPLES Center Arena Lease Through 2041

The Los Angeles Lakers and AEG, the owners of STAPLES Center, have signed a long-term lease extension ensuring that the defending World Champions will remain in their downtown Los Angeles home arena through the 2041 season.

Arent Fox LLP, led by San Francisco Managing Partner and Sports Practice Leader Richard L. Brand and Associate Wesley T. Gee, served as outside counsel to the Los Angeles Lakers on the transaction.

Since beginning their first season at the iconic venue in 1999, the Lakers have achieved the most successful two decades in franchise history, posting both regular season (987-780) and playoff (139-79) records while winning six NBA championships, including last season’s record-tying 17th title in the NBA bubble.

“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.

“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.”

This matter is just the most recent high-profile transaction handled by Arent Fox’s Sports Industry Practice Group, which was named by Law360 as the ‘Practice Group of the Year.’ Notable work in just the last year includes:

  • Representing LA Stadium and Entertainment District at Hollywood Park in a naming rights and sponsorship transaction with digital personal finance company SoFi, on the new SoFi Stadium, the new home of the Los Angeles Chargers and the Los Angeles Rams
  • Serving as outside counsel to Amazon in a naming rights and sponsorship transaction for the “Climate Pledge Arena,” home of Seattle’s NHL team and WNBA’s Seattle Storm and which will be the first net zero carbon certified arena in the world
  • Back-to-back naming rights and sponsorship transactions for brand new MLS Stadiums: Q2 Stadium in Austin on behalf of client Q2 and TQL Stadium in Cincinnati on behalf of client TQL.
Smart In Your World
Your goals define our mission. Whether an immediate need or a long-term objective, ArentFox Schiff helps you reach your full potential. As industry insiders, we partner with you to develop practical business strategies and sophisticated legal solutions to achieve today’s targets and anticipate tomorrow’s problems. We get you across the finish line.


Continue Reading