The Staples Center has long been an iconic stadium for both Los Angeles Lakers and Los Angeles Clippers fans. There’s no doubt that there has been a lot of NBA history experienced in the legendary arena. Despite those factors and how symbolic it has become, there are now going to be some changes.
Shams Charania of The Athletic has recently reported that the Staples Center will have a new name, and be called the Crypto.com Arena starting on Christmas day. It is also reported that this is the “largest U.S. venue naming rights deal” in history.
Staples Center – the iconic home of the Los Angeles Lakers and Clippers among others since 1999 – will have a new name beginning Dec. 25: https://t.co/lur8Hbuv0r Arena. It’s believed to be the largest U.S. venue naming rights deal to date.
— Shams Charania (@ShamsCharania) November 17, 2021
Staples Center – the iconic home of the Los Angeles Lakers and Clippers among others since 1999 – will have a new name beginning Dec. 25:Crypto.com Arena. It’s believed to be the largest U.S. venue naming rights deal to date.
According to a Tweet by Iliana Limon Romero of LA Times, Crypto.com paid more than $700 million in order to get the naming rights, and the deal will last for 20 years. The accompanying article also featured a statement by Crypto.com chief executive Kris Marszalek.
https://t.co/mhGS4GcaVG paid more than $700 million for the naming rights to what will be known as Staples Center until Dec. 25, according to sources familiar with the terms, making it one of the biggest naming deals in sports history.https://t.co/mFZcEZCEQo
— Iliana Limón Romero (@LAT_Iliana) November 17, 2021
Crypto.com paid more than $700 million for the naming rights to what will be known as Staples Center until Dec. 25, according to sources familiar with the terms, making it one of the biggest naming deals in sports history.
“In the next few years, people will look back at this moment as the moment when crypto crossed the chasm into the mainstream,” Marszalek said when reached at his home in Hong Kong.
This is just such a brilliant move from the guys at AEG, because the next decade belongs to crypto,” he said. “And this positions L.A. and this particular venue right at the center of it.”
While there will certainly be a lot of money accompanying the change, a lot of fans won’t be happy. After all, everyone has gotten used to the old name, and a lot of fans feel a connection to the stadium.
However, the good news is that most things will remain the same, aside from the name, as people will still be able to watch their favorite players/teams play basketball. There has been more overlap between the cryptocurrency and the NBA world, with an example being Cade Cuningham signing a deal with a cryptocurrency platform. This is just the latest situation where those two worlds cross paths.
