STAPLES Center will change its name to Crypto.com Arena

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After 22 years, the STAPLES Center changes its name and the original LA Kings arena will become Crypto.com Arena.

From the “Frenzy at Figueroa” in 2001 to the club’s two Stanley Cup victories, the LA Kings have celebrated major achievements at the STAPLES Center. However, as of December 25, the Kings arena will have a new name: Crypto.com Arena.

Although it has become the norm in North American sports, the Kings home arena has not been affected – even immune – to it since it opened in October 1999. Well, that will change. officially in a little over a month now.

On Tuesday evening, the owner of the arena, AEG (Anschutz Entertainment Group) announced the name change. A person familiar with the deal informed the Associated Press that the new deal will see Crypto.com pay $ 700 million over 20 years to rename the building, which is also home to the NBA’s Los Angeles Lakers, the Los Angeles Clippers. and the WNBA. The sparks of Los Angeles. The said source disclosed this information on condition of anonymity, as the parties have yet to publicly announce the terms of the deal – the one believed to be the richest naming rights deal in sports history. .

Founded in 2016, Singapore-based Crypto.com is a cryptocurrency exchange and platform. The acquisition of the new naming rights deal for the Kings national arena is just the latest in a plethora of activity on the global sports landscape over the past 12 months. The platform’s activities include high-visibility sponsorship deals with, among others, the Montreal Canadiens NHL, Formula 1, UFC, Italian Serie A and Paris St-Germain. Recently, Crypto.com also purchased the NBA Philadelphia 76ers Uniform Sponsor Patch.

The arena’s final game as the STAPLES Center will be on December 23 when the NBA Lakers host the San Antonio Spurs. The Lakers will also host the building’s first event under its new name, Crypto.com Arena, when they host the Brooklyn Nets on December 25 as part of the NBA’s annual Christmas showcase.

As for the LA Kings, their final game as the STAPLES Center will be on December 22 when they host the Edmonton Oilers in town; and their first game with the new name of their original arena will be on December 28 when they host the Vegas Golden Knights.

In addition to the Kings’ pair of Stanley Cups, the STAPLES Center is also home to other champions – the Lakers, who have won six NBA titles since 1999, and the Sparks and their three WNBA crowns. Yet while the teams may not be changing arenas, the change in naming rights is nonetheless the end of an era – iconic, too.

While the name changes of sports venues are the reality of the sports business world, the change from STAPLES Center to Crypto.com Arena marks a sad time for those who have made their home in this iconic building for so many years. The same goes for fans who have seen the STAPLES Center as, for all intents and purposes, their home away from home, whether they are cheering on their beloved Kings, Lakers, Clippers or Sparks.

Like any arena name change, calling the original LA Kings arena Crypto.com Arena will definitely take some getting used to. But, it’s the start of a new era of sorts while also marking a moment to reflect on the past 22 years that were – from unfathomable grief to incredible joy – cherishing the memories that STAPLES Center brought us all. looking ahead, impatient and excited for the memories that Crypto.com Arena will bring.

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