The Staples Center, which is the famous home of the Los Angeles Lakers and Clippers, will now be renamed in a landmark multi-year naming rights deal.
The Staples Center.
The name, just as the building itself, is the home of indoor sporting events in Los Angeles.
But that’s all going to change by Christmas, as the Staples Center is set to become… Crypto.com Arena.
Instead of being named for the nationwide office supply company, the event space will be named after Crypto.com, which is “the world’s fastest-growing cryptocurrency platform” according to their press release.
This is the first time the iconic Los Angeles event space has been renamed since it was built in 1999.
Los Angeles renaming Staples Center as Crypto.com Arena
After 22 years as the Staples Center, Crypto.com is vying for a similar amount of time to spread their name on signs and billboards. The cryptocurrency company has paid for naming rights for the next 20 years, beginning on Dec. 25, 2021. On that day, the Staples Center will begin transitioning to Crypto.com Arena as they change signs and other markers. The press release states that “all of the venue’s external signage will be replaced by June 2022.”
The arena is also set to undergo a massive renovation comparable to Madison Square Garden’s $1 billion renovation.
Another important note about this deal is that it certifies Crypto.com as the official cryptocurrency platform partner for the Los Angeles Lakers and LA Kings. In a country where most event spaces are named and funded by major corporations, partnering with a cryptocurrency platform is certainly a bold, futuristic move.
“This partnership is about the future,” said Dan Beckerman, President and CEO of AEG, the group that owns the L.A. arena.
While cryptocurrency may be the future of buying tickets and snacks at Los Angeles Lakers, Clippers and Sparks games, renaming the beloved Staples Center still isn’t easy.