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Staples Center to Become Crypto.com Arena on December 25

UTC by Oluwapelumi Adejumo · 3 min read
Staples Center to Become Crypto.com Arena on December 25
Photo: STAPLES Center

The Staples Center is a downtown Los Angeles-located multipurpose arena. It is one iconic and globally recognized venue.

The AEG-owned and controlled venue, the Staples Center would now have a change of name to Crypto.com Arena as it has entered a 20-year naming rights agreement with one of the world’s fastest-growing cryptocurrency platforms, Crypto.com that paid more than $700 million for the deal.

Starting from December 25, AEG would say goodbye to the name “Staples center” and welcome the new name Crypto.com Arena which would take effect on Christmas day. On that same occasion, the partners would unveil the logo of Crypto.com Arena with another necessary branding such as internal signages. However, all external signage of Staples Center will remain the same until June 2022 when they would be replaced.

The Staples Center is a downtown Los Angeles-located multipurpose arena, launched in 1999. It is one iconic and globally recognized venue. Since its launch, countless memorable and prolific entertainment and sports shows and events have been held in the arena.

Yearly, it hosts over 200 high-profile national and global events, including Grammy Awards, the NHL’s LA Kings, NBA’s Los Angeles Lakers, LA Clippers, and the WNBA’s Los Angeles Sparks. Music and live entertainment shows are also not left out.

With this partnership agreement, Crypto.com would also become the official cryptocurrency platform partner of the Los Angeles Lakers and LA Kings.

While speaking on the partnership which would last for the next two decades, the Crypto.com Co-Founder and CEO, Kris Marszalek said:

“We’re very excited about partnering with AEG and investing long term in this city, starting 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.”

“This partnership represents the fastest-growing cryptocurrency platform and the biggest sports and live entertainment company in the world converging to drive the future of sports and live entertainment as well as the incredible legacy of this arena for decades to come,” said Todd Goldstein, Chief Revenue Officer of AEG.

He continued that “it marks an exciting new chapter in the history of our company and our respective industries, and we couldn’t be more thrilled to have such a visionary partner like Crypto.com supporting our global fan base and the local community.”

Crypto.com was founded in 2016. It boasts over 10 million customers worldwide. It is among the fastest-growing crypto platforms in the world. It focuses on building a regulated business in every market where the company operates.

This is not the first of its partnerships. It recently partnered with Matt Damon.  Some of its other partners include UFC, F1, Paris Saint-Germain, and the NBA’s Philadelphia 76ers, to the NHL’s Montreal Canadiens, esports team Fnatic, and Lega Serie A, the Italian Football league and Twitch Rivals.

Business News, Cryptocurrency news, News
Oluwapelumi Adejumo

Oluwapelumi is a believer in the transformative power Bitcoin and Blockchain industry holds. He is interested in sharing knowledge and ideas. When he is not writing, he is looking to meet new people and trying out new things.

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