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The Los Angeles Clippers today announced that the club has entered into a ten-year lease agreement with AEG, owners and operators of STAPLES Center.

“We are very pleased to announce this agreement, and to be able to ensure that our fans will enjoy the long-term comfort and stability that goes along with making STAPLES Center our home,” Clippers Executive Vice President Andy Roeser said.

The upcoming 2004-05 season marks the Clippers’ sixth at STAPLES Center. The team moved its operations there when the building opened in 1999, and has drawn an average of more than 650,000 fans per season.

Roeser continued, “We have made every effort to provide the ultimate consumer experience to the more-than 3.5 million fans who have attended our games during our five seasons at STAPLES. We are greatly aided in accomplishing that goal by Phil Anschutz, Ed Roski, Tim Leiweke and all of the very talented people at STAPLES Center who contribute to the building’s overwhelming success.”

“We look forward to even greater days ahead, as we begin this next exciting chapter of our partnership.”

According to STAPLES Center and AEG President and CEO Timothy J. Leiweke, “The Los Angeles Clippers have been an important part of the unique experience that STAPLES Center has become known for during our arena’s first five years. Our entire AEG organization is very pleased that the Clippers, one of our original three anchor tenants, will continue to be part of our family and tradition for the next ten years.”

“Our goal has always been to operate the world’s most important and certainly most busy arena and this long-term agreement from our partners will certainly ensure this. We congratulate Donald T. Sterling, Andy Roeser and Elgin Baylor for their commitment to our venue, our city and to building a playoff contender,” Leiweke added.

The agreement goes into effect immediately. No other terms were disclosed.