In Brief:
- Crypto.com secured a 20-year deal with AEG to buy the naming rights to the Staples Center in LA.
- Staples Centre will be renamed Crypto.com Arena.
- The agreement is worth $700 million and the new name will take effect on Christmas.
Crypto.com, the world’s emerging cryptocurrency platform, struck a 20-year contract deal worth $700 million with AEG (Anschutz Entertainment Group), a leading sport and live entertainment company, to buy naming rights to Staples Center in LA.
This historic naming rights agreement is aimed to rename the AEG’s STAPLES Center which is one of the world’s most iconic sports and entertainment arenas, located in Los Angeles.
AEG’s owned and operated STAPLES Center will be known as Crypto.com Arena. This agreement will also make Crypto.com an official crypto platform partner of the Los Angeles Lakers and the LA Kings.
Additionally, the agreement will also offer Crypto.com mainstream brand exposure, as it will now be associated with the Lakers, one of the NBA’s top brands.
The new name will take effect on Christmas Day when the Lakers will take on the Brooklyn Nets. On the same day, AEG and Crypto.com will unveil the new logo and other branding assets such as internal arena signage of the newly named Crypto.com. All the external signage is planned to be replaced by June 2022.
This new partnership holds so much for Crypto.com as the company will come forward for the global sports and live entertainment events in the coming 20 years.
The Staple Center has served as an iconic arena since 1999, for most memorable sports and live entertainment events. This world-class venue located in downtown Los Angeles hosts over 240 high-profile national and international events such as sports, concerts, award shows, boxing, and special events including GRAMMY Awards, NBA All-Star Games, and NHL All-Star Games.
Over the course of two decades, Crypto.com will engage millions of entertainment and sports fans each year through exclusive branded areas of the arena. This agreement has superseded FTX’s partnership with California University with a whopping $700 million for naming rights. FTX has given $17.5 million for the naming rights to California University Stadium.
