The Staples Center is one of the most iconic and globally recognized sports and entertainment venues in the world and is being renamed Crypto.com Arena. Crypto.com has also become the official cryptocurrency platform partner of the Los Angeles Lakers and Los Angeles Kings.

The new name of the Staples Center is Crypto.com Arena

The two companies independently announced on Tuesday that the owners of the Staples Center, AEG and Crypto.com, “have initiated a historic 20-year naming rights agreement that will rename the Staples Center owned and operated by AEG.” .

Located in downtown Los Angeles, this award-winning arena has 20,000 seats and claims to be “one of the most iconic and globally recognized sports and entertainment venues in the world.” It is the official home of the Los Angeles Lakers and Los Angeles Clippers of the National Basketball Association (NBA) and the Los Angeles Kings of the National Hockey League (NHL) and the Los Angeles Sparks of the WNBA.

According to reports, Crypto.com has agreed to pay more than US$700 million for naming rights. The announcement details that the name change will take effect on December 25, and adds:

AEG and Crypto.com will unveil the newly named Crypto.com Arena on Christmas Day… The agreement also makes Crypto.com the official cryptocurrency platform partner of the Los Angeles Lakers and the Los Angeles Kings.

The announcement added that the new agreement includes “Crypto.com Arena, LA LIVE, Microsoft Theater, The Novo, the official names of the Los Angeles Lakers and the Los Angeles Kings.”

“Every year, this world-class venue will host more than 240 domestic and internationally renowned major events and more than 4 million guests,” the announcement further pointed out. The scope of activities includes professional sports events, concerts, family and award ceremonies, and special events, including the Grammy Awards, NBA All-Star Game and NHL All-Star Game.

Todd Goldstein, Chief Revenue Officer of AEG, commented:

This partnership represents the fastest growing cryptocurrency platform and the world’s largest sports and live entertainment company, jointly driving the future of sports and live entertainment, and the incredible legacy of this field in the decades to come.

In October, Crypto.com cooperated with famous Hollywood actors Matt Damon In its first global event called “Wealth Favors the Brave”. Earlier this year, the exchange cooperated with an F1 fleet.

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