Rendering of STAPLES Center after its rebranding as Crypto.com Arena. (Crypto.com)
Los Angeles’ STAPLES Center has announced that it will be getting a new name this Christmas. The multi-purpose arena in Downtown Los Angeles will be rebranded as the Crypto.com Arena starting Dec. 25.
The STAPLES Center has held its name since opening in 1997 and serves as the home of the NBA teams, The Los Angeles Lakers, The Los Angeles Clippers, the WNBA’s Los Angeles Sparks, and the NHL’s Los Angeles Kings. The arena has also served as a venue for world-class artists from Taylor Swift to Elton John and will continue to in the upcoming months for The Weeknd, Kacey Musgraves and Tyler the Creator.
The Los Angeles Times reported that Singapore-based cryptocurrency exchange Crypto.com is paying a whopping $700 million to AEG for the 20-year naming rights. The deal is believed to be the largest of its kind in history.