Wachovia named ‘Founding Partner’ of L.A. Live

Wachovia
Corp. and AEG have announced a deal naming the bank a “Founding
Partner” in AEG’s $2.5 billion L.A. Live project.

Wachovia
will serve as the exclusive financial services provider of L.A. Live and the

Staples
Center, and will receive “prominent
branding” throughout the 27-acre sports, residential and entertainment
complex. The bank will also have consumer promotion and client entertainment
opportunities as well.

Among the
venues already under construction at L.A. Live are the 7,100-seat Nokia
Theatre, a 14-screen Regal movie theater, a bowling center and studios for
ESPN.

L.A.
Live’s 54-story condominium and hotel tower will have its official
groundbreaking ceremony Friday morning.

Los
Angeles’ AEG is the sports and entertainment arm of the Anschutz Co. Charlotte,
N.C.-based Wachovia has entered the Southern California market through its
acquisitions of Irvine’s Westcorp and Oakland’s Golden West Financial.