Staples Signs Lifetime Naming Rights Deal For LA Arena

Framingham-based Staples Inc. has extended its naming rights agreement on the Staples Center in Los Angeles for life.

Staples and AEG, the facility's owner, said the agreement is the first lifetime naming rights arrangement for a major market arena in the United States. Staples has owned the naming rights to the facility since it opened in 1999. At that time, the office supplies retailer signed a 20-year naming rights agreement.

More than 4 million people attend about 250 events at the Staples Center annually. The facility hosted the 2000 Democratic National Convention and nine Grammy Awards ceremonies. It is the home for four professional sports franchises.

Financial terms of the naming rights arrangement were not disclosed.