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Staples Center is changing its name to Crypto.com Arena – Las Vegas, Nevada

Las Vegas, Nevada 2021-12-01 12:25:28 –

Los Angeles (AP) — Staples Center has been given a new name. From Christmas day, it will be the Crypto.com arena.

The downtown Los Angeles home of the Lakers and Clippers of the NBA, the Kings of the NHL and the Sparks of the WNBA will change names after 22 years of operation, Arena owner AEG announced Tuesday night.

Those with trading knowledge say the Associated Press has paid $ 700 million over 20 years for Crypto.com to rename the building. The person spoke on condition of anonymity, as the parties have not publicly announced the terms that are believed to be the richest naming rights contract in sports history.

The 20,000-seat arena has been the Staples Center since its opening in October 1999 and is named by a US office supplies retailer under a 20-year contract. The name changes when the Lakers host the Brooklyn Nets at the NBA’s annual Christmas showcase.

Crypto.com is a cryptocurrency platform and exchange headquartered in Singapore. Founded in 2016, Crypto.com has been spending the entire world of sports for the past year. The platform has signed highly visible sponsorship agreements with F1, UFC, Serie A in Italy, Paris Saint-Germain and the Montreal Canadiens in the NHL, and has also purchased the Philadelphia 76ers uniform sponsorship patch.

AEG, a sports and entertainment conglomerate with a majority ownership of the Kings and a stake in the Lakers until last summer, soon became a well-known stage for major events in the United States’ second-largest metropolitan area. I built an arena.

In addition to sports tenants, 19 Grammy Awards ceremonies, 3 NBA All-Star Games, 2 NHL All-Star Games, and Michael Jackson, Nypsy Hustle, and Kobe Bryant at the Arena.

The Lakers won six NBA championships during their tenure at the Cave Arena. This was won three times in a row in the first three years of operation. A banner commemorating the Lakers’ 17 NBA titles is hung high on the wall above the playfloor and could be the hallmark of the building’s most distinctive interior.

Sparks won three WNBA titles while at Staples Center, where Kings won the first two Stanley Cup Championships in 2012 and 2014, both clinching at home ice.

The Clippers will be short-term residents at the Crypto.com Arena. They plan to open the Intuit Dome in owner Steve Ballmer’s $ 1 billion, 18,000-seat Inglewood in 2024, when the Staples Center lease ends. Nothing has been decided, but Sparks was able to leave downtown as well.

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