LA gets a bad name for Staples Center: Crypto.com Arena

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Office supplies are exhausted. Decentralized currencies are in place. On Tuesday night, live events company Anschutz Entertainment Group announced the new name for its stadium, which hosts the Los Angeles Lakers, Clippers, Kings and Sparks. Goodbye Staples Center. Hello Crypto.com Arena.

According to the Los Angeles Times, AEG sold the name of the downtown site for the next 20 years to the Singapore-based cryptocurrency exchange which recently increased its US advertising budget. The $ 700 million naming rights deal appears to be the largest of its kind ever in the United States; signage will begin to switch at Christmas, for the Lakers’ game with the Brooklyn Nets.

“Over the next few years, people will see this moment as the moment when crypto broke the chasm into the mainstream,” Marszalek told the LA Times from his home in Hong Kong, perhaps forgetting that the Miami Heat has already a stage named after a cryptocurrency exchange. The deal will also include an “activation space” near the entrance to the arena, where visitors can have “cryptocentric interactive experiences for sports or music fans” next to the Magic Johnson statue, according to the Times.

Staples Center is not one of the sacred names among sports arenas across the country, given that it was only opened in 1999 and was named after a store that Americans used to buy pens. But he has a huge history over his 22 years, including two Stanley Cup championships and six NBA Finals wins. More importantly to aesthetically minded Los Angeles residents, the name is symmetrical. He’s not wearing something as outrageous as a hanging estate at the end. But as Crypto.com Arena, the building joins the ranks of awkward corporate rebrandes from other major sports stadiums across the country, like the Quicken Loans Arena, the Smoothie King Center, and the Guaranteed Rate Field.

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