The Staples Center in LA is renamed the Arena

Sinéad Baker

The exterior of the Staples Center in Los Angeles. Kirby Lee-USA TODAY Sports via Reuters

  • The Staples Center in LA will be renamed the Arena under a 20-year agreement.

  • The amendment will take effect on December 25.

  • The deal cost more than $ 700 ($ 957 AU) million, Axios reported, citing sources.

The Staples Center in Los Angeles, home of the LA Lakers and LA Kings, is being renamed the Arena.

The cryptocurrency platform and the Staples Center, headquartered in Singapore, announced the change in a press release on Wednesday.

The amendment is due to take effect on 25 December.

The 20-year naming rights agreement also makes an “official cryptocurrency platform partner for the Los Angeles Lakers and LA Kings,” said.

Axios reported, citing sources, that the deal cost more than $ 700 ($ AU957) million.

Staples paid about $ US120 ($ AU164) million for 20-year naming rights to the center in 1999, Axios reported.

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