Crypto.com Arena replaces Staples Center. The Staples Center will be renamed in the near future. The Crypto.com Arena will be open from Christmas Day onward.
After 22 years in operation, the Los Angeles Memorial Coliseum. Home of the NBA’s Lakers and Clippers, the NHL’s Kings, and the WNBA’s Sparks. It will be renamed, according to arena owner AEG on Tuesday night.
According to The Associated Press, a person with knowledge of the agreement says Crypto.com. They will pay $700 million over 20 years to rename the skyscraper. The individual spoke on the condition of anonymity because the terms of what is thought. To be the largest naming rights agreement in sports history. That have not been made public by the parties involved.
It has been known as the Staples Center since it first opened its doors in October 1999. With the naming rights held by the American office-supply retail corporation under a 20-year arrangement. It is with the city of Los Angeles. When the Los Angeles Lakers take on the Brooklyn Nets in the NBA’s annual Christmas showcase. The Lakers’ nickname will be changed.
Its headquarters are in Singapore, where Crypto.com operates as a cryptocurrency platform and exchange. The cryptocurrency exchange Crypto.com, which founded in 2016. Has been on a spending binge across the global sports landscape during the past year. The platform has signed high-profile sponsorship deals with Formula One. The Ultimate Fighting Championship, Italy’s Serie A, Paris St-Germain, and the NHL’s Montreal Canadiens. As well as purchasing the Philadelphia 76ers’ jersey sponsorship patch — among other sports.
AEG, the sports and entertainment giant that owns the Kings
Construction of the arena, which has quickly become a famous venue for major events in the United States. Second-largest metropolitan area, was oversee by AEG, the sports and entertainment conglomerate. That owns a majority stake in the Kings and previously owned. A stake in the Lakers until last summer.
As a result of its sports tenants, the arena has hosted 19 Grammy Awards ceremonies. Three NBA All-Star Games, two NHL All-Star Games, as well as a slew of high-profile concerts. Performances, and significant public events, including memorial services for Michael Jackson. Including Nipsey Hussle, and Kobe Bryant, among others.
While playing in the massive facility, the Lakers have won six NBA championships, including three in a row. During the arena’s first three years of operation. Banners celebrating the Lakers’ 17 NBA championships hung high on the walls above. The playing surface, giving what is perhaps the most recognizable interior. Feature of the building: the 17 NBA championship banners.
There have been three WNBA championships for the Sparks during their time. At the Staples Center, while the Kings have won their first two Stanley Cup championships. There in 2012 and 2014, with both victories coming on home ice.
The Clippers will be making their first visit to Crypto.com Arena. When their lease at the Staples Center expires in 2024. They will move to the $1 billion, 18,000-seat Intuit Dome in Inglewood. Which will built by owner Steve Ballmer. The Sparks may also opt to depart downtown at that time. Although no decision has made.