Staples Center getting renamed Crypto.com Arena starting December 25!
The iconic home of the Los Angeles Lakers, Clippers, Sparks, and Kings will be renamed Crypto.com Arena beginning on December 25 as part of a 20-year naming rights deal. Continue on for more details on Staples getting renamed to Crypto.com Arena...
CelebnSports247.com reports DTLA is getting a makeover when it comes to The Staples Center the home of the NBA’s Lakers and Clippers, the NHL’s Kings, and the WNBA’s Sparks.
After 22 years of operation, arena owner AEG announced Tuesday night that Crypto.com is paying $700 million, according to multiple reports, over 20 years to rename the building.
The parties aren’t publicly announcing the financial terms of what’s believed to be the richest naming rights deal in sports history.
The 20,000-seat arena has been Staples Center since it opened in October 1999, with the naming rights owned by the American office-supplies retail company under a 20-year agreement. The name will change when the Lakers host the Brooklyn Nets in the NBA’s annual Christmas showcase.
The Lakers signed a 20-year extension to Staples lease which will now be Crypto.com Arena.
Crypto.com is a cryptocurrency platform and exchange headquartered in Singapore. Founded in 2016, Crypto.com has been on a spending spree across the global sports landscape over the past year. The platform has inked high-visibility sponsorship deals with 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.
