Does anything seem more like the 1990’s than a big box office supply retail store chain?
Does anything sound more like the 2020’s than a cryptocurrency platform and exchange?
Yeah, times have changed big time, and the arena home to the LA Lakers, Clippers, and Kings will reflect that.
Staples Center in downtown Los Angeles is changing its name to crypto.com Arena, and the new 20-year agreement is the biggest naming rights deal in sports history.
How big, you ask? Well, $700 million big.
To say that crypto.com has been aggressive in branding initiatives would be quite an understatement. They have already done deals with Formula One, the UFC, Its’y’s Series A, Paris St-Germain, and the Montreal Canadiens. They will also be visible on the Philadelphia 76ers’ uniforms, as they purchased the sponsorship patch real estate with the NBA team.
The official name change will take place on Christmas Day, during gate nationally televised game against the Brooklyn Nets.
Staples Center has been the most visible and important building in the U.S. for the past 20 years in sports and entertainment. In the past two decades, here’s what it has hosted:
19- Grammy Awards shows
3- NBA All-Star Games
2- NHL All-Star Games
5- NBA Finals
2- Stanley Cups
It was also the sight of huge memorial services for Kobe Bryant, Michael Jackson, and Nipsey Hustle.
Many people are disappointed about this news. The Staples Center has hosted so many incredible memories for people; it will be hard to get used to calling it something else.
Here’s what Lakers’ coach Frank Hamblen told ESPN.
“Yeah, it’s tough, you know what I mean? Lakers fans and really sports fans in general obviously know that building as the Staples Center. “I understand the disappointment the fans will have. But that’s just the way of the world. This is the business we’re in. Almost universally around the country, there’s a business element to naming rights for the arenas. It’s really out of our control.”