The Staples Center will be renamed the Crypto.com Arena

Staples Center gets a new name for Christmas: Crypto.com Arena.

The venue in downtown Los Angeles – home to the Lakers, Clippers, Kings and Sparks – will bear the new name for 20 years under an agreement between Singapore’s cryptocurrency exchange and AEG, the owner and operator of the arena, both parties announced on Tuesday. Crypto.com paid more than $ 700 million for the naming rights, according to sources familiar with the terms, making it one of the largest naming deals in sports history.

The arena’s new logo will debut on December 25, when the Lakers host the Brooklyn Nets, and the entire Staples Center signage will be replaced with the new name in June 2022.

Crypto.com’s CEO, Kris Marszalek, hopes the new name will be seen as a sign of the times.

Read the full story at LATimes.com.

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