Staples Center to be renamed after cryptocurrency company / News - Basketnews.com

Credit: AFP – Scanpix Credit AFP – Scanpix

Starting Christmas, Staples Center, home of the two Los Angeles teams, will have a new name: Crypto.com Arena. The home court of the Los Angeles Lakers and Los Angeles Clippers (at least until their own stadium is prepared in Inglewood) will be given a new name for the first time since 1999.Cryptocurrencies have already invaded the NBA in various ways: players' fees, jersey advertisements, and now sports installations, starting from the Staples Center.The company crypto.com will be the one to give its name to the installation, which will be named Crypto.com Arena. Per The Athletic, this is the largest U.S. venue naming rights deal to date.

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According to this report, the cryptocurrency company bought the rights to the name of the stadium for $700 million and for the next 20 years.

The inaugural game under the new name of the stadium will be between the Lakers and the Nets on Christmas day, while by June 2022 all relevant references to the Staples Center will have been replaced.Staples Center, in addition to NBA games, hosts WNBA and NHL (ice hockey) contests.

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