LA Lakers’ Home Staples Center Renamed to CryptoCom Arena in a $700M Deal
4 d ago•2 min read•Other
The popular cryptocurrency trading platform – Crypto.Com – continues with its impressive partnerships and mainstream appearances. The latest deal with its involvement will see the iconic Staples Center to be renamed to Crypto.Com Arena.
The Staples Center is a multi-purpose arena in Downtown Los Angeles, perhaps best known as the home of the legendary NBA team – The Los Angeles Lakers. Additionally, it also hosts other giant teams such as the LA Clippers, the NHL’s LA Kings, and the WNBA’s Los Angeles Sparks. For the first time in its over 20 years of existence, the venue will have a new name, according to a post shared on its official website. The deal will see the involvement of the cryptocurrency exchange Crypto.com and the live entertainment company AEG. Both parties have signed a 20-year naming rights agreement, which will rename the AEG-owned and operated venue from Staples Center to Crypto.Com Arena. According to other reports, the whole deal will be worth more than $700 million. The digital asset exchange will also become the official cryptocurrency platform partner of the Lakers and the Kings. The new logo will appear firstly on Christmas Day when the Lakers host the Brooklyn Nets, while all external signage will be replaced by the summer of next year to include Crypto.com’s brand. “We are very excited about partnering with AEG and investing long term in this city, starting with Crypto.com Arena in the heart of downtown, and using our platform in new and creative ways so that cryptocurrency can power the future of world-class sports, entertainment, and technology for fans in LA and around the world.” – commented the exchange’s CEO, Kris Marszalek. This is the second deal involving a crypto exchange and an NBA team this year that had the latter’s arena renamed. As reported in March, FTX signed a $135 million deal to rename the Miami Heat venue to FTX Arena.