Crypto.com has acquired naming rights to the Staples Center in a $700 million deal. It will now be called the Crypto.com Arena.
The deal also sees LA Lakers and the LA Kings become official partners of the cryptocurrency exchange.
The naming rights deal is one of the biggest in sports history.
Share this article
Crypto.com has paid $700 million to secure a 20-year naming rights agreement for LA’s iconic Staples Center, renaming it to the Crypto.com Arena.
Crypto.com Renames Staples Center
Crypto.com has signed one of the biggest naming deals in sports history.
The exchange announced that it had secured the naming rights for Los Angeles’ iconic Staples Center Tuesday. The venue will now be called the Crypto.com Arena.
We’re extremely proud to announce that Staples Center, Los Angeles’ most iconic arena is getting a new name:
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
The 20-year naming rights deal with sports and live entertainment company AEG is not limited to the venue’s name. Crypto.com will also become an official cryptocurrency platform partner of the NBA’s LA Lakers and the NHL’s LA Kings, the two teams that currently occupy the venue.
AEG and Crypto.com will officially unveil the center’s new logo and arena signage on Christmas Day when the LA Lakers take on the Brooklyn Nets at the newly named arena.
Although the $700 million deal includes more than just the Staples Center naming rights, it is also significant in that it is the biggest naming rights deal in sports history. Until now, the highest amount paid for the naming rights of a sports stadium sat at $635.5 million, when the Bank of Nova Scotia renamed Toronto’s Air Canada Centre to the Scotiabank Arena in 2017.
Crypto.com co-founder and CEO Kris Marszalek commented on the historic deal, saying:
“We’re very excited about partnering with AEG and investing long term in this city, starting with Crypto.com Arena in the heart of downtown, and using our platform in new and creative ways so that cryptocurrency can power the future of world-class sports, entertainment, and technology for fans in LA and around the world.”
Crypto.com has been on a marketing push in the sports world this year, teaming up with the likes of the UFC and Formula One. However, it is not the only crypto exchange to venture into sports naming rights deals. Earlier this year, FTX signed several high-profile sports partnerships. In March, the firm paid $135 million for naming rights to the Miami Heat’s home stadium, renaming it to the FTX Arena. In August, it also purchased naming rights to the football field at the California Memorial Stadium for $17.5 million.
Share this article
The information on or accessed through this website is obtained from independent sources we believe to be accurate and reliable, but Decentral Media, Inc. makes no representation or warranty as to the timeliness, completeness, or accuracy of any information on or accessed through this website. Decentral Media, Inc. is not an investment advisor. We do not give personalized investment advice or other financial advice. The information on this website is subject to change without notice. Some or all of the information on this website may become outdated, or it may be or become incomplete or inaccurate. We may, but are not obligated to, update any outdated, incomplete, or inaccurate information.
You should never make an investment decision on an ICO, IEO, or other investment based on the information on this website, and you should never interpret or otherwise rely on any of the information on this website as investment advice. We strongly recommend that you consult a licensed investment advisor or other qualified financial professional if you are seeking investment advice on an ICO, IEO, or other investment. We do not accept compensation in any form for analyzing or reporting on any ICO, IEO, cryptocurrency, currency, tokenized sales, securities, or commodities.
See full terms and conditions.
FTX Buys Naming Rights to Another Sports Venue
The deal is FTX’s latest big move in a series of partnerships with sports organizations. Enter FTX Field FTX, one of the top cryptocurrency exchanges in the industry, has struck…
How Bumper’s Price Protection Helps DeFi Users Earn Yield on Their A…
Is it possible to build a DeFi protocol that counters crypto’s inherent volatility while also letting holders enjoy the upshot of their assets? Bumper Finance is a DeFi price-protection protocol that aims…
Crypto.com Becomes Official Partner of UFC
Crypto.com has established a long-term relationship with the biggest mixed martial arts organization, Ultimate Fighting Championship (UFC), for on-site advertising and media broadcasts. Crypto.com Enters Partnership with UFC Crypto.com has…
FTX Will Likely Get Naming Rights to Miami Heat’s Arena
Crypto exchange FTX will likely gain the naming rights to the Miami Heat’s sports arena, according to the Miami Herald. FTX Buys Stadium Rights Over the past several weeks, FTX…