LA’s Staples Center will be renamed ‘Crypto.com Arena’
The Staples Center, home to Los Angeles sports teams including the Lakers, Clippers, Kings, and Sparks, is getting a new name: “Crypto.com Arena.” Yes, Crypto Dot Com Arena. The cryptocurrency exchange paid more than $700 million for 20-year naming rights, according to the LA Times, making it one of the largest such deals ever. Staples paid $100 million for the rights for 10 years in 1999.
The logo will reportedly be revealed on Christmas Day for the Brooklyn Nets’ game with the Lakers, and Staples Center branding should be phased out by June. “In the next few years, people will look back at this moment as the moment when crypto crossed the chasm into the mainstream,” Crypto.com CEO Kris Marszalek tells the LA Times. “This is just such a brilliant move from the guys at [venue owner] AEG, because the next decade belongs to crypto.”