The 20-year naming rights deal, announced Tuesday by arena owner AEG, marks the end of an era. The Staples Center has kept that name since the 20,000-seat facility opened in 1999 and is home to several professional sports teams, including the NBA’s Los Angeles Lakers and Clippers and the NHL’s LA Kings.
“This partnership represents the fastest-growing crypto platform and largest sports and live entertainment company in the world converging to drive the future of live and mobile sports and entertainment.” incredible legacy of this arena for decades to come,” said Todd Goldstein, Chief Revenue Officer of AEG, in the press release.
The new name and logo will go into effect on Christmas Day, giving Crypto.com a prominent focus when the Lakers take on the Brooklyn Nets on ABC. Visitors will see the sign outside being replaced next June.
The agreement also names Crypto.com as the “official crypto platform partner” of the Lakers and Kings.
SoftBank-backed FTX has spent big to acquire a roster of A-list sponsors, including legendary NFL quarterback Tom Brady and his wife Gisele Bundchen, Golden State Warriors defender Stephen Curry, the team University of Kentucky men’s basketball and Jacksonville Jaguars quarterback Trevor Lawrence.
FTX also currently holds the naming rights for the Miami Heat’s home ground as well as the soccer field at UC Berkeley. As part of the agreement with Major League Baseball, the referees wear an FTX patch on their uniform.
–CNN Business ‘Matt Egan contributed to this report.
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