The Staples Center, which is home to the NBA’s Los Angeles Lakers and Los Angeles Clippers, is changing its name. According to the AEG, which owns the property, the building will be called Crypto.com Arena moving forward.
Crypto.com, a Singapore-based cryptocurrency platform, reportedly bought the naming rights for the next 20 years. The price is believed to be around $700 million, which would make it the richest deal of its kind in sports history, according to ESPN.
The Staples Center, home to the WNBA’s LA Sparks and the NHL’s LA Kings, will officially change its name on December 25th. The renaming will coincide with the Lakers’ home game against the Brooklyn Nets.
The arena, located in downtown Los Angeles, was built in 1999. Since then, it has become one of the most iconic sports venues in the world and a place of many title celebrations. The Lakers alone won six NBA titles during their time at Staples Center, while the Sparks claimed three WNBA championships. The Kings added two Stanley Cups.
The Clippers were the only team that didn’t win at Staples Center. They will also be the first franchise to depart the arena, being scheduled to move to the Inglewood-located Intuit Dome after their lease expires in 2024.