Downtown L.A’s Staple centre gets rebranded by a Hong Kong-based cryptocurrency firm in what appears to be one of the biggest naming rights deals in history. The sporting centre houses the Los Angeles Lakers and L.A Kings would now be called Crypto Arena come December 25, 2021, which is when the deal becomes official, as part of a 20-year deal, and a new logo will be introduced on that day, although all public signs would not yet carry the new name until around June 2022.
The multi-million dollar deal between the management of the centre, AEG and Crypto.com would include 3,300 square feet of premium branded areas of the arena. In a statement by the AEG Chief Revenue Officer, Todd Goldstein, the partnership symbolizes a synergy between the fastest growing cryptocurrency platform and the sport-cum entertainment company, merging to drive the legacy of the arena in the coming years. “We are excited to have crypto.com as our partner and this signifies new beginnings for our fans both on the global and local community level” Todd stated.
Crypto.com, a trading and services platform for exchanging Bitcoin, Ethereum, Dogecoin and other virtual currencies whom recently announced Matt Damon has the ambassador for its global campaign, revealed that the investment with AEG was going to pave way for the company to launch a cryptocurrency in more creative ways to power the future of world-class sports, entertainment and technology for fans across the world.
Following a similar crypto-related renaming of the Miami Heat’s home from American Airlines Arena to FTX Arena earlier this year, crypto.com took a cue to launch their business in the naming rights platform. The naming agreement also includes Crypto.com being the official cryptocurrency platform partner for the Los Angeles Lakers and Los Angeles Kings, who also play regular-season games at the facility, according to the business.
Staples Center, dubbed from the office supply retailer, has hosted six championship Lakers teams, two championship Kings teams, and three championship Sparks teams since its inception in 1999. The multifunctional stadium has hosted the Grammy Awards and will be an official site during the 2028 Summer Olympics. It routinely draws over 18,000 sports lovers for basketball and hockey games.