NBA Clippers Agree to 10-year Extension on Staples Center Lease

The Los Angeles Clippers agreed to a 10-year extension on their lease at the Staples Center, which owner Philip Anschutz put up for sale in September.

Terms of the agreement weren’t disclosed by the National Basketball Association team, which played its first regular season at the venue on Nov. 2, 1999. The new lease runs through June 2024.

“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 in a statement.

The Anschutz Entertainment Group’s portfolio of 100 venues on five continents includes the Staples Center as well as interests in the Los Angeles Lakers, the L.A. Kings, who in June won the National Hockey League’s Stanley Cup for the first time, and the L.A. Galaxy professional soccer team.

To contact the reporter on this story: Nancy Kercheval in Washington at nkercheval@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net