SBD/27/Facilities Venues

STAPLE THE NAME ON L.A.'S NEW DOWNTOWN ARENA

          MA-based Staples, Inc. has agreed to a 20-year deal with
     the developers of L.A.'s proposed downtown arena to "become
     the main corporate sponsor" for the $300M complex, according
     to sources "within the company" and cited by White & Dillman
     of the L.A. TIMES.  The deal is worth "about" $100M, which is
     the "largest amount ever" paid for naming rights to an arena. 
     In addition, GTE heads a group of "secondary sponsors" which
     "could bring in" an additional $50M.  The city "would not
     receive" any of the money from the deals, however the money
     "could be used" to pay the $58M in municipal bonds, which the
     city is issuing to fund the new arena.  Kings President Tim
     Leiweke said Friday that there was no finalized deal, but
     that talks will continue this week (L.A. TIMES, 10/25).

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