What has the STAPLES center been renamed to? Latest on Crypto.com Arena and huge venue naming rights deal
The multi-purpose arena in Downtown Los Angeles, adjacent to the LA Live entertainment complex, has all been renamed.
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What has the Staples Center been renamed to?
According to The Athletic’s Shams Charania, ‘STAPLES Center’ will be renamed ‘Crypto.com Arena’ from December 25, 2021.
The Staples Center – the iconic home of the Los Angeles Lakers and the Clippers among others since 1999 – will get a new name starting December 25: https://t.co/lur8Hbuv0r Arena. It is believed to be the largest US naming rights deal to date.
– Shams Charania (@ShamsCharania) November 17, 2021
Crypto.com, a 5 year old company with over 10 million users and nearly 3,000 employees, is a big player in the emerging crypto world.
The new name – Crypto.com Arena – will debut when the Los Angeles Lakers host the Brooklyn Nets in one of five NBA games on Christmas Day. The rest of the STAPLES Center signage is expected to be replaced by June 2022.
Get detailed reports on the massive naming rights deal
According to LA Times, Crypto.com paid up to $700 million for naming rights over the next 20 years. The valuation of the deal makes it one of the largest ever in professional sports history.
Kris Marszalek, chief executive officer of Crypto.com told the LA Times: “Over the next few years, everyone will look back to this moment when crypto overcame the chasm to become mainstream.
According to the LA Times, AEG, the owner and operator of the arena, and Crypto.com are still working on the scope of the partnership beyond naming rights, but the integration of crypto payments in the arena could be possible. is in the process of development.
Dan Beckerman, managing director at AEG, said: “It’s been a miracle when we think about the kind of brands we want to work with. “Crypto.com was looking for the most unique branding platform to make a statement and drive adoption, and we were looking for an innovative, forward-thinking company to help us chart map for the future full of sporting and entertainment events.”
History of the ‘STAPLES Center’
The STAPLES Center is home to the Los Angeles Lakers and LA Clippers of the NBA, the Los Angeles Sparks of the WNBA and the LA Kings of the NHL.
Inaugurated on October 17, 1999, when STAPLES Inc. upstart paid $100 million for copyright over 10 years. In 2009, STAPLES signed a permanent naming rights agreement, however in 2019 AEG brought back the naming rights to an undisclosed sum.
Since its opening, the ‘STAPLES Center’ has hosted seven series of NBA Finals against the Lakers, the 2012 and 2014 Stanley Cup finals, three WNBA finals, the 2002 U.S. Figure Skating Championships, and the 2002 U.S. Figure Skating Championships. The 52nd and 62nd NHL All-Star Games, and three NBA All-Star Games (2004, 2011 and 2018).
