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Home Crypto News Exchanges NBA Lakers Home Staples Center Is Getting A New Name, Crypto.com Arena

NBA Lakers Home Staples Center Is Getting A New Name, Crypto.com Arena

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The exchange has reached an agreement to rename the Staples Center to Crypto.com Arena for the next 20 years. 

Staples Center is the Los Angeles home to the NBA’s Lakers and Clippers, WNBA’s Sparks, and NHL’s Kings.

The term of the agreement is 20 years. Its owner and operator, Anschutz Entertainment Group will receive $700 million, as a result of the deal.

 

The new arena logo will appear on December 25 during the Lakers vs. Brooklyn Nets match. All logos of the current Staples Center will be replaced by June 2022, ahead of the start of the next season.

Crypto.com will also work directly with the Los Angeles Lakers and the Los Angeles Kings as part of the deal.

Staples Center is also used for cultural events with a seating capacity of 200,000, the venue hosts award ceremonies such as the Grammy, as well as concerts, boxing matches, and NBA All-Star games. According to Bloomberg, the arena receives about 4 million visitors a year at more than 240 events.

As a reminder, in June 2021 Crypto.com signed sponsorship agreements with Formula 1 and Aston Martin Cognizant. The platform also has advertisement rights with the UFC, Serie A, Paris Saint-Germain, Philadelphia 76ers, and Montreal Canadiens.

In March, the FTX exchange acquired the naming rights of the NBA’s Miami Heat arena.

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Disclaimer

The content is for informational purposes only and may include the author’s personal opinion, and does not necessarily reflect the opinion of TheCryptoBasic. All Financial investments, including crypto, carry significant risk, so always do your complete research before investing. Never invest money you cannot afford to lose; the author or the publication does not hold any responsibility for your financial loss or gains.

Mark Brennanhttps://thecryptobasic.com/
Mark Brennan has been active in the cryptocurrency sector since 2014. His love and passion for the nascent industry drove him to develop interest in writing about important developments and updates about cryptocurrencies and blockchain. Brennan, who holds a Masters degree in Business Administration, learned about the potential of blockchain technology. Aside from crypto journalism, Brennan runs an education center, where he educates people about the asset class.

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