Lease Renewal will Guarantee ‘Original Anchor Tenant’ Will Celebrate 25 Years at STAPLES Center in 2024
LOS ANGELES (January 22, 2013) – The Los Angeles Clippers have agreed to a 10-year extension of their STAPLES Center lease it was jointly announced by Andy Roeser, President, Los Angeles Clippers and Timothy J. Leiweke, President & CEO, AEG, owner and operators of the Los Angeles arena. Terms of the agreement were not released.
“We are very excited about our present and our future at STAPLES Center. It is indeed an honor to benefit from the sustained stability that accompanies being part of the greatest venue in the NBA, and we are glad to provide this state of the art backdrop to our deserving and loyal fan base,” said Clippers’ President Andy Roeser.
The Clippers, one of the arena’s original anchor tenants, played its first regular season game at STAPLES Center on November 2, 1999 against the Seattle Supersonics. Under the new agreement, which becomes effective at end of the current 2012-13 season, the franchise will continue to call the arena their home thru June, 2024, a period of 25 years.
“Donald Sterling, Andy Roeser and the entire Clippers organization have been not just great partners but a huge part of the success of STAPLES Center,” said Timothy J. Leiweke, President & CEO, AEG. “Their contributions have served to make this unique three team anchor tenant relationship both mutually successful as well as mutually beneficial. We are happy for their many achievements and are proud to call them our partners and friends.”
Before games of Wednesday, January 22, the Los Angeles Clippers currently rank first in the NBA’s Pacific Division. The team’s record of 32-10 (.761) is second best in the NBA.
Donald T. Sterling enters his 32nd year as Owner and Chairman of the Board of the Clippers. He ranks among the longest-tenured NBA owners and is one of the few remaining sole owners of a professional sports franchise in any league.