The Staples Center will be named Crypto.com Arena on Christmas Day – CBS Los Angeles

LOS ANGELES (CBSLA) – The Staples Center, an iconic arena in downtown Los Angeles that has been home to the Lakers, Clippers and Kings since 1999, will be renamed the Crypto.com Arena, believed to be the largest title agreement in history.

Staples originally paid $ 120 million for a 20-year designation agreement in 1999. Crypto.com will pay $ 700 million for a 20-year designation agreement. Arash Center.

The source confirmed to CBSLA that the name change will take place on Christmas Day. An official press release is expected to be issued soon.

“Known as the world’s creative capital, the city of Los Angeles and the people who call it home have always been pioneers who have broken boundaries and innovated culture and entertainment as undisputed global leaders,” said the founder of Crypto.com. and CEO Kris Marszalek. “We are very excited to partner with AEG and make a long-term investment in this city, starting at Crypto.com Arena in the heart of downtown and using our platform in new and creative ways to make cryptocurrency work for the future of world-class sports, entertainment and technology for fans in and around LA. the world. “

Over the years, the Staples Center has often been referred to as the “house built by Kobe,” as Kobe Bryant played almost his entire NBA career there and at the same time brought five NBA championships to the Lakers. Kobe’s widow Vanessa Bryant shared a picture of Staples on Instagram tonight and wrote, “Known forever as the house Kobe built.”

Clippers star Paul George reacted to the news Tuesday night after the Clippers won the Spurs at Staples.

“I grew up with this being Staples and Staples was the place to play and the place to be,” said George, who grew up in Palmdale. “It’s definitely weird. It’s the same place, but it’s a bit like just stripping history by calling it some other way.

“It’s definitely weird, good, we’re not here for long,” George added, referring to Clippers, who are starting to build their own arena in Inglewood, which is scheduled to open for 2024-25.

According to Crypto.com, “the new deal includes official names at Crypto.com Arena, LA LIVE, Microsoft Theater, The Novo, the Los Angeles Lakers and LA Kings, putting the fastest-growing crypto platform strategically at the forefront of the global industry. years. ”

“This partnership represents the fastest growing cryptocurrency platform and the world’s largest sports and live entertainment company, uniting to drive the future of sports and live entertainment and the incredible legacy of this arena for decades to come,” said Todd Goldstein. AEG Revenue Manager. “It marks an exciting new chapter in the history of our company and similar industries, and we couldn’t be excited to have a visionary partner like Crypto.com to support our global fan base and local community.”

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