• The Staples Center, home of the Los Angeles Lakers, has been renamed CryptoCom Arena in a $700 million deal

  • Crypto.Com, the popular cryptocurrency trading platform, maintains its impressive partnerships and mainstream appearances. The iconic Staples Center will be renamed Crypto.Com Arena as part of the latest deal in which it is involved.

    • The Staples Center is a multi-purpose arena in Downtown Los Angeles best known as the home of the legendary NBA team, The Los Angeles Lakers. It also plays host to other major teams such as the Los Angeles Clippers, the Los Angeles Kings of the NHL, and the Los Angeles Sparks of the WNBA.
    • According to a post on the venue’s official website, the venue will have a new name for the first time in its over 20-year history.
    • The cryptocurrency exchange Crypto.com and the live entertainment company AEG will both be involved in the transaction.
    • Both parties have agreed to a 20-year naming rights agreement that will change the name of the AEG-owned and operated venue from Staples Center to Crypto.Com Arena. According to other reports, the total value of the transaction will exceed $700 million.
    • The digital asset exchange will also become the Lakers’ and Kings’ official cryptocurrency platform partner.
    • The new logo will first appear on Christmas Day, when the Lakers host the Brooklyn Nets, and will be replaced by the summer of next year on all external signage to include Crypto.com’s brand.
    • “We are very excited about partnering with AEG and investing long-term in this city, beginning with Crypto.com Arena in the heart of downtown, and using our platform in new and creative ways so that cryptocurrency can power the future of world-class sports, entertainment, and technology for fans in LA and around the world,” said Kris Marszalek, CEO of the exchange.
    • This is the second deal this year involving a cryptocurrency exchange and an NBA team that has resulted in the renaming of the latter’s arena. As previously reported, FTX signed a $135 million deal to rename the Miami Heat arena FTX Arena.
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