We’ll see a new name for Staples Center come Christmas Day, as the new name–Crypto.com Arena–will be introduced to the world via a national game broadcast on ABC.
It’s a 20-year, $700-million-plus naming-rights deal for the AEG-owned and operated home of the Los Angeles Lakers (NBA), Los Angeles Kings (NHL), Los Angeles Sparks (WNBA) and, for now, the Los Angeles Clippers (NBA). This agreement also makes Crypto.com an official cryptocurrency platform partner of the Lakers and Kings.
AEG and Crypto.com will unveil a new logo and other branding assets, including internal arena signage, on Christmas Day, when the Lakers host the Brooklyn Nets. All of the venue’s external signage will be replaced by June 2022.
The deal was brokered by AEG Global Partnerships.
“This partnership represents the fastest-growing cryptocurrency platform and the biggest sports and live entertainment company in the world converging to drive the future of sports and live entertainment as well as the incredible legacy of this arena for decades to come,” said Todd Goldstein, Chief Revenue Officer of AEG, via press statement. “It marks an exciting new chapter in the history of our company and our respective industries, and we couldn’t be more thrilled to have such a visionary partner like Crypto.com supporting our global fan base and local community.”
The naming-rights deal includes premium branded areas of the arena, including a 3,300-squre-footactivation space at the building’s entrance, as well as dedicated activation areas on the main concourse of the arena and throughout the L.A. LIVE campus. Additionally, the new relationship will see Crypto.com featured prominently across the venue with large-scale, premium branding and signage throughout the interior and exterior of the facility.
“It’s a bit of a match made in heaven, when we think about the type of brands that we like to partner with,” said Dan Beckerman, President and CEO of AEG, in a Los Angeles Times interview. “Crypto.com is looking for the most unique branding platform to make a statement and drive adoption, and we’re looking for an innovative, forward-thinking company to help us chart a course for the future of sports and entertainment events.”