Staples Center to be renamed Crypto.com Arena over Christmas

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Staples Center will be renamed Crypto.com Arena under a new 20-year naming rights deal. The cryptocurrency platform announced the partnership on Tuesday evening.

The iconic stadium in downtown Los Angeles that hosts large-scale entertainment events and the NBA Lakers and Clippers, WNBA Sparks and NHL Kings will officially take on its new name on December 25. Cryptocurrency platform and live sports and entertainment company AEG unveil the venue’s new logo and other brands on Christmas Day, when the Los Angeles Lakers host the Brooklyn Nets. The exterior signage of the 20,000-space building will be replaced and updated by June 2022.

“The city of Los Angeles and the people who inhabit it have always been pioneers, pushing boundaries and innovating as undeniable global leaders in culture and entertainment,” said Crypto.com Co-Founder and CEO Kris Marszalek, in a statement. “We are very excited to partner with AEG and make a long-term investment in this city, starting with Crypto.com Arena in the heart of downtown, and using our platform in new ways and creative so that cryptocurrency can fuel the future of world-class sports. , entertainment and technology for fans of LA and around the world.

The deal is just the latest installment in a marketing blitz that Crypto.com continued to roll out throughout the fall. The company created an ad featuring Matt Damon in October. The high-profile name change also reflects the growing standardization of cryptocurrency in American culture.

“This partnership is about the future,” said Dan Beckerman, President and CEO of AEG. “AEG and Crypto.com not only share a vision for innovation and the future of sports and entertainment, but we also have a common commitment to our communities where we work and live. We look forward to partnering with Crypto.com to create meaningful initiatives to bring this vision to life in the years to come. “

Before the venue opened in 1999, Staples Inc. won its original nickname in December 1997 with a 10-year contract worth $ 100 million. The retail company renewed its naming rights in 2009, although AEG bought out the naming rights for an undisclosed amount in 2019. AEG’s deal with Crypto.com is said to have started with conversations towards the end of last summer.

Negotiations for the deal were conducted on behalf of AEG by Nick Baker and Russell Silvers, co-operational directors of AEG Global Partnerships and on behalf of Crypto.com by Steven Kalifowitz, marketing director of Crypto.com and Gilad Rodkin , senior vice president. marketing of Crypto.com.

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