Story at a glance
- The Staples Center in downtown Los Angeles — home to four professional sports franchises — will soon be renamed Crypto.com Arena.
- Crypto.com, a Singapore cryptocurrency exchange, struck a $700 million deal with arena operator AEG to brandish its name on the arena for 20 years.
- “In the next few years, people will look back at this moment as the moment when crypto crossed the chasm into the mainstream,” Crypto.com chief executive Kris Marszalek said.
The Staples Center in downtown Los Angeles — home to four professional sports franchises — will soon be renamed Crypto.com Arena.
Basketball fans wait outside Staples Center before an NBA basketball game between Los Angeles Clippers and the Cleveland Cavaliers in Los Angeles, Saturday, March 19, 2011. AP Photo
Crypto.com, a Singapore cryptocurrency exchange, struck a $700 million deal with arena operator AEG to brandish its name on the arena for 20 years, The Los Angeles Times reported. The Times noted the deal could be one of the biggest renaming deals in sports history.
The Crypto.com logo will first appear Dec. 25, and a full signage shift is expected to take place by 2022.
We’re extremely proud to announce that Staples Center, Los Angeles’ most iconic arena is getting a new name:
https://t.co/vCNztATkNg Arena
As part of this 20 year partnership, we’re also excited to welcome the @Lakers & @LAKings as our newest partners! pic.twitter.com/KCfYKySDRt
— Crypto.com (@cryptocom) November 17, 2021
“In the next few years, people will look back at this moment as the moment when crypto crossed the chasm into the mainstream,” Crypto.com chief executive Kris Marszalek told the paper.
“This is just such a brilliant move from the guys at AEG, because the next decade belongs to crypto,” he added. “And this positions L.A. and this particular venue right at the center of it.”
America is changing faster than ever! Add Changing America to your Facebook or Twitter feed to stay on top of the news.
The arena debuted its current name in 1997 when Staples Inc. reportedly paid $100 million in a 10-year contract before signing another deal in 2009.
READ MORE STORIES FROM CHANGING AMERICA
‘HAMILTON’ STAR LIN-MANUEL MIRANDA FIRES BACK AT CANCEL CULTURE
FACEBOOK DISCOVERS THERE’S ALREADY A COMPANY NAMED META
MARK ZUCKERBERG’S MYSTERIOUS NEW ‘METAVERSE’ PROJECT IS HIRING 10,000 PEOPLE
WHY ELON MUSK IS MOVING TESLA FROM CALIFORNIA TO TEXAS
WAR ERUPTS OVER NEW MARVEL BLOCKBUSTER’S GAY SUPERHERO
changing america copyright.
