Staples Center Home of LA Lakers Will Now Be Called Crypto.com Arena

November 17, 2021 9:37 am

The Los Angeles Lakers have played at the iconic Staples Center since 1999; legendary players such as Kobe Bryant, Shaquille O’Neal and Lebron James have all won championships there.

Well now the Staples Center is no more and the arena will now be called Crytpo.com arena.

Crytpo.com which is a cryptocurrency exchange will be paying over $700 million to rename the stadium.

Besides being home of the Los Angeles Lakers the arena also hosts the Los Angeles Clippers, LA Kings, the LA Sparks and numerous concerts and award shows.

ABC 7 News Had More On The Story:

Staples Center, the downtown Los Angeles home to several local pro sports teams such as the Lakers, will be renamed Crypto.com Arena, arena owner AEG announced Tuesday night.

The venue will officially change its name Dec. 25 when the Lakers play the Brooklyn Nets in the NBA’s annual Christmas showcase.

A person with knowledge of the deal tells The Associated Press that Crypto.com is paying $700 million over 20 years to rename the building. The person spoke on condition of anonymity because the parties aren’t publicly announcing the terms of what’s believed to be the richest naming rights deal in sports history.

Since it first opened in 1999, the venue has been known as the Staples Center.

The arena is home to the NBA’s Lakers and Clippers, the NHL’s Kings and the WNBA’s Sparks. Nineteen Grammy Award ceremonies have been held at the venue and it regularly hosts concerts from top-charting music artists.

 

ESPN got the scoop too:

Staples Center is getting a new name. Starting Christmas Day, it will be Crypto.com Arena.

The downtown Los Angeles home of the NBA’s Lakers and Clippers, the NHL’s Kings and the WNBA’s Sparks will change its name after 22 years of operation, arena owner AEG announced Tuesday night.

Crypto.com is paying $700 million, according to multiple reports, over 20 years to rename the building. The parties aren’t publicly announcing the financial terms of what’s believed to be the richest naming rights deal in sports history.

The 20,000-seat arena has been Staples Center since it opened in October 1999, with the naming rights owned by the American office-supplies retail company under a 20-year agreement. The name will change when the Lakers host the Brooklyn Nets in the NBA’s annual Christmas showcase.

With this new deal being signed in ink, expect Crypto.com’s CRO(┬áthe native token of the Crypto.com Chain) to rise.

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