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Buy NowLos Angeles’ Staples Center, home of the Lakers, Clippers, and Kings, will be renamed Crypto.com Arena on Christmas Day.
AEG, the group that owns and operates Staples Center, announced the name change on Tuesday. The facility has been known as the Staples Center for 22 years.
“A person with knowledge of the deal tells The Associated Press that Crypto.com is paying $700 million over 20 years to rename the building,” the Associated Press reports. “The person spoke on condition of anonymity because the parties aren’t publicly announcing the terms of what’s believed to be the richest naming rights deal in sports history.”
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Buy NowThe Staples Center name change is a significant landmark achievement for the growth of cryptocurrency in the world of sports naming rights. Other Crypto.com naming rights purchases include, “Formula One, the UFC, Italy’s Serie A, Paris St-Germain and the NHL’s Montreal Canadiens — while also purchasing the Philadelphia 76ers’ uniform sponsorship patch.”
“Along with its sports tenants, the arena has hosted 19 Grammy Awards ceremonies, three NBA All-Star Games, two NHL All-Star Games and countless high-profile concerts, performances and important public events, including memorials for Michael Jackson, Nipsey Hussle and Kobe Bryant,” the Associated Press reports.
Founded in 2016, Crypto.com is an exchange specializing in cryptocurrency. The company is headquartered in Singapore.
