Staples Center, one of the most iconic and globally recognized sports and entertainment arenas in the world, is changing its name to Crypto.com Arena. Crypto.com has also become an official cryptocurrency platform partner of the Los Angeles Lakers and the LA Kings.
Staples Center’s New Name Is Crypto.com Arena
AEG, the owner of Staples Center, and Crypto.com “have launched a historic, 20-year naming rights agreement that will rename the AEG-owned and operated Staples Center,” both companies independently announced Tuesday.
Located in downtown Los Angeles, the 20,000-seat, award-winning arena described itself as “one of the most iconic and globally recognized sports and entertainment arenas in the world.” It serves as the official home of the National Basketball Association (NBA) teams Los Angeles Lakers and LA Clippers as well as the National Hockey League (NHL) team LA Kings and the Women’s National Basketball Association (WNBA) team Los Angeles Sparks.
Crypto.com has agreed to pay more than $700 million for the naming rights, according to reports. The announcement details that the name change will be effective on Dec. 25, adding:
AEG and Crypto.com will unveil the newly named Crypto.com Arena on Christmas Day … This agreement also makes Crypto.com an official cryptocurrency platform partner of the Los Angeles Lakers and the LA Kings.
The new agreement includes “official designations across Crypto.com Arena, L.A. LIVE, Microsoft Theater, The Novo, the Los Angeles Lakers, and the LA Kings,” the announcement adds.
“Each year, the world-class venue hosts over 240 major high-profile events of national and international distinction and over 4 million guests,” the announcement further states. Events range from professional sports, concerts, family and award shows, and special events, including the Grammy Awards, NBA All-Star Games, and NHL All-Star Games.
Todd Goldstein, chief revenue officer of AEG, commented:
This partnership represents the fastest-growing cryptocurrency platform and the biggest sports and live entertainment company in the world converging to drive the future of sports and live entertainment as well as the incredible legacy of this arena for decades to come.
In October, Crypto.com partnered with famous Hollywood actor Matt Damon on its first global campaign called “Fortune Favours the Brave.” Earlier this year, the exchange partnered with an F1 team.