• Los Angeles Times, Monday, December 7, 2009 10:41 AM

Mercedes is expected to announce today that it is signing a 10-year deal to sponsor a new $280-million basketball and entertainment venue on the Huangpu River in Shanghai, China. The facility is being developed by Los Angeles-based entertainment titan AEG, the National Basketball Association and Oriental Pearl Group, a division of Shanghai Media Entertainment Group, Roger Vincent reports. Terms were not disclosed.

The arena will be about the same size as Staples Center in Los Angeles and will be used as the performing arts center for the six-month World Expo fair starting in May. It will become Mercedes-Benz Arena in 2011 -- the first venue for the automaker outside Germany.

The 18,000-seat facility with 82 luxury suites will be used for performing arts such as concerts, sports and other entertainment. Preseason NBA games and other basketball events such as WNBA games will be held there, according to NBA International President Heidi Ueberroth.

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