Staples Center in Los Angeles to be renamed Crypto.com Arena
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[November 17, 2021]
(Reuters) - The Staples Center
sports and entertainment arena in downtown Los Angeles will be renamed
the Crypto.com Arena under a naming rights agreement, the venue's
operator said.
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.
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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.
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![](../images/111721PIX/news_h15.jpg)
Nov 15, 2021; Los Angeles, California, USA; A general overall view
of the Staples Center exterior. Mandatory Credit: Kirby Lee-USA
TODAY Sports
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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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