Staples Center is getting a new name for Christmas: Crypto.com Arena.
The downtown Los Angeles venue — home of the Lakers, Clippers, Kings and Sparks — will wear the new name for 20 years under a deal between the Singapore cryptocurrency exchange and AEG, the owner and operator of the arena, both parties announced Tuesday. Crypto.com paid more than $700 million for the naming rights, according to sources familiar with the terms, making it one of the biggest naming deals in sports history.
The arena’s new logo will debut Dec. 25, when the Lakers host the Brooklyn Nets, and all of Staples Center signage will be replaced with the new name by June 2022.
Crypto.com’s chief executive, Kris Marszalek, hopes that the new name will come to be seen as a sign of the times.
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