Staples Center becomes Crypto.com Arena this Christmas

Los Angeles (AFP) – The Staples Center will change its name. As of Christmas Day, it will be renamed Crypto.com Arena.

Venue owner AEG announced Tuesday night that the downtown Los Angeles stadium, where the NBA Lakers and Clippers, NHL Kings and WNBA Sparks play, will change its name after 22 years in operation.

Crypto.com It will pay $700 million in 20 years to rename the building, a person familiar with the situation told The Associated Press who spoke on the condition of anonymity because the parties have not yet announced the terms of what he believes to be an agreement of this kind. Expensive in sports history.

The 20,000-seat arena has been called Staples Center since it opened in 1999 and the rights to the name have been held by the American Office Supplies Company under a 20-year contract. He will make his debut when the Lakers host the Brooklyn Nets in the NBA game on Christmas Day.

Crypto.com It is a Singapore-based currency and cryptocurrency exchange platform. Founded in 2016, Crypto.com I have invested heavily in the global sports scene in the past year. The company has completed colorful sponsorship deals with Formula One, UFC, Italian Serie A, Paris St-Germain and the Montreal Canadiens of the NHL, as well as a presence on the Philadelphia 76ers jersey.

AEG, the sports and entertainment group that owns a majority stake in Kings and was present in the Lakers’ ownership until last summer, built a stadium that quickly became a well-known venue for major events in the second largest metropolitan area, America’s largest.

In addition to home team games, the arena has hosted 19 Grammy Awards, three NBA All-Star games, and two NHL games, as well as countless concerts, shows, and important events. Hustle and Kobe Bryant.