Staples Center becomes Crypto.com Arena, a rebrand to $ 700 million over 20 years!
Crypto.com is an exchange that crypto enthusiasts are familiar with. The platform just made a great gift for itself. A gift of 700 million dollars, more precisely, the naming right of the famous sports stadium of the Staples Center in Los Angeles. A prestigious rebrand for an arena that is equally prestigious. That promises!
Staples Center becomes Crypto.com Arena
The Staples Center recently announced in a statement that it has signed a 20-year agreement between AEG, owner and operator of the Staples Center in Los Angeles, with Crypto.com. For those who do not know, the Staples Center, with its 20,000 seats, is the official headquarters of four renowned professional sports franchises: the Lakers, the Clippers (NBA), the Sparks (WNBA) and the Kings (NHL).
A rebrand to $ 700 million over 20 years
This partnership relates more specifically to the acquisition of the naming rights to the site by Crypto.com. Therefore, the Staples Center will be renamed the Crypto.com Arena. And for this, the exchange has put on the table 700 million dollars, paid in full in cash. For the platform, the choice of this speaker is even more interesting since it does not only host sports matches. For example, Staples Center has hosted more than 15 GRAMMY awards ceremonies.
For the Staples Center, this is a great first. This will be the site’s first rebranding since its opening in 1999. Please note that if the name change will take place officially on December 25, 2021, the physical signage will not be changed until June 2022.
Building on its growing popularity, Crypto.com has also entered into other deals with reputable sports teams and organizations in recent months. The platform thus signed a multi-year agreement with Paris Saint-Germain in September 2021, a collaboration that should allow, in particular, to put online exclusive NFTs linked to the club, directly on the Crypto.com market, of course.
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