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The 20-year agreement for the AEG-owned and
operated venue, which is home to the NBA's Los Angeles Lakers
and LA Clippers, the NHL's LA Kings and the WNBA's Los Angeles
Sparks, will be effective from Christmas Day, AEG said.
The Los Angeles Times, citing unidentified sources, reported
that the Singapore-based Crypto.com platform paid more than $700
million for the naming rights. Crypto.com was not immediately
available for comment though it confirmed the deal in a
statement on its website.
In over 20 years, the venue has been the stage for high-profile
events like the Grammys and concerts by the likes of Taylor
Swift, Beyoncé and Ed Sheeran.
Cryptocurrencies have attracted a surge of interest in recent
months, as mainstream investors and companies embrace bitcoin
and other digital token.
In a joint statement published on the Staples Center's website,
the parties said that the deal would make Crypto.com an official
cryptocurrency platform partner of the Los Angeles Lakers and
the LA Kings.
Recently, soccer club Paris St Germain announced that Lionel
Messi's signing fee at the club included some cryptocurrency fan
tokens.
Crypto.com was founded in 2016. The actor Matt Damon is an
investor in the platform and he recently took part in a campaign
to promote it.
(Reporting by Maria Ponnezhath in Bengaluru; Editing by Robert
Birsel)
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