Staples Center renamed Crypto.com Arena in new deal

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The Staples Center in Los Angeles is changing its name.

Athletic’s Shams Charania reports that Staples Center will officially become Crypto.com Arena starting December 25. Charania writes that the arena renaming deal is “considered the largest site naming rights deal in the United States to date.”

According to the Los Angeles Times, the deal between building owners Anschutz Entertainment Group (AEG) and the Singapore-based cryptocurrency exchange cost more than $ 700 million.

The multi-purpose arena, currently home to the Los Angeles Lakers and Los Angeles Clippers of the NBA, the Los Angeles Sparks of the WNBA and the Los Angeles Kings of the NHL, opened in 1999.

“Over the next several years, people will see this as the moment when crypto broke the chasm into the mainstream,” Kris Marszalek, CEO of Crypto.com, told the Los Angeles Times. “This is such a brilliant decision from the guys at AEG, because the next decade is in crypto… And that puts LA and this place in particular at the center of it.”

AEG CEO Dan Beckerman called the new deal a “match made in heaven.” Beckerman continued, “” Crypto.com is looking for the most unique brand platform to make a statement and drive adoption, and we are looking for an innovative, forward-thinking company to help us chart a course for the future. full of events and sport and entertainment.

In addition to owning the Staples Center Crytpo.com Arena, AEG owns the O2 Arena in London. The company also produces the popular Coachella Valley Music and Arts Festival.

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