Staples Center, home to Lakers/Clippers to be renamed Crypto.com Arena

The Staples Center sports and entertainment arena in downtown Los Angeles will be renamed the Crypto.com Arena under a naming rights agreement, the venue’s operator said.

ReutersUpdate: Nov 17th, 2021 07:15 EST

(FILES) In this file photo taken on March 14, 2021 people take photos in front of the Staples Center awhere the 63rd Annual Grammy Awards are taking place in Los Angeles, California. - The Los Angeles Lakers' famed home, the Staples Center, is to be

VALERIE MACONAFP

The Staples Center sports and entertainment arena in downtown Los Angeles will be renamed the Crypto.com Arena under a naming rights agreement, the venue’s operator said.

The 20-year agreement for the AEG-owned and operated venue, which is home to the NBA’s Los Angeles Lakers and LA Clippers, the NHL’s LA Kings and the WNBA’s Los Angeles Sparks, will be effective from Christmas Day, AEG said.

Nov 12, 2021; Los Angeles, California, USA; Los Angeles Lakers forward Anthony Davis (3) moves the ball against Minnesota Timberwolves forward Jarred Vanderbilt (8) during the second half at Staples Center. Mandatory Credit: Gary A. Vasquez-USA TODAY SporFull screen

Nov 12, 2021; Los Angeles, California, USA; Los Angeles Lakers forward Anthony Davis (3) moves the ball against Minnesota Timberwolves forward Jarred Vanderbilt (8) during the second half at Staples Center. Mandatory Credit: Gary A. Vasquez-USA TODAY SporGary A. VasquezUSA TODAY Sports

The Los Angeles Times, citing unidentified sources, reported that the Singapore-based Crypto.com platform paid more than $700 million for the naming rights. Crypto.com was not immediately available for comment though it confirmed the deal in a statement on its website.

In over 20 years, the venue has been the stage for high-profile events like the Grammys and concerts by the likes of Taylor Swift, Beyoncé and Ed Sheeran.

Cryptocurrencies have attracted a surge of interest in recent months, as mainstream investors and companies embrace bitcoin and other digital token.

In a joint statement published on the Staples Center’s website, the parties said that the deal would make Crypto.com an official cryptocurrency platform partner of the Los Angeles Lakers and the LA Kings.

AEG and https://t.co/mht717OBXs announce their historic naming rights partnership for one of the world’s most iconic sports and live entertainment venues formerly known as STAPLES Center. For full press release visit: https://t.co/jWHLBF7YUv pic.twitter.com/Q6OhDTIZu7

— Crypto.com Arena (@cryptocomarena) November 17, 2021

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