One day in the future, everything will be electronic. There will be no need for paper, pens and toner, file folders, paper clips or sticky notes, but there’s one thing that is guaranteed to be around forever- Staples.
In a bold move by AEG, a leading sports and entertainment presenter and owner of STAPLES Center, the naming rights on the arena have been extended indefinitely. Staples, the world’s largest office products company, will be the first ever naming rights holder to secure a lifetime extension for a major market arena.
So long after today’s office supplies are obsolete, there will still be STAPLES.
The original contract between the office supply giant and AEG, which was signed in 1999, was to last 20 years and included a rights extension option after 10 years.
Timothy J. Leiweke, President and C.E.O. of AEG and STAPLES Center told Reuters, “Staples has been a great partner since day one… This lifetime deal, with a leading global brand, will continue to be heralded as a great investment and one that will help secure the future of STAPLES Center as a world-class sports and entertainment destination."
And he’s surely pleased that they’ll never have to change the huge sign on the roof.
STAPLES Center is in the top three entertainment venues in the world, in the ranks with Madison Square Garden and London’s O2 Arena, and will undoubtedly continue to be successful.
The venue hosts more than 4 million people each year at about 250 different events, many of which have both national and international distinction.
Besides the Grammy’s, the NHL championships, the NBA Championships, the X-Games and more, STAPLES Center recently received global attention to the tune of 2 billion viewers for the Michael Jackson Memorial Service.
It is also home to four professional sports franchises.
“A long list of sports champions, community leaders and entertainers have had some of their greatest moments at STAPLES Center and we look forward to many more in the years to come," said Mike Miles, President and C.O.O. of Staples Inc.
So maybe your great great grandchildren will have no idea what staples are, but they’ll still watch sporting events, see concerts, attend conventions and more at our very own STAPLES Center.
