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LOS ANGELES — Staples, which paid $120 million to put its name on the Staples Center in 1999, has extended its deal with AEG “in perpetuity.” Terms were not disclosed.
AEG contends that the arrangement is “the first lifetime naming rights extension for a major market arena.” Ten companies are paying AEG annual fees for naming rights, a sum expected to surpass $250 million this year, said Todd Goldstein, president of AEG’s sponsorship division. Los Angeles Times
