Staples Center will be renamed Crypto.com Arena

In the latest indication that crytocurrency is here to stay, Staples Center is being renamed Crypto.com Arena. After 22 years, the iconic arena is getting a new name thanks to a new 20-year naming rights agreement between the arena’s owner, AEG, and Crypto.com. The agreement will also make Crypto.com the official cryptocurrency platform partner of the Los Angeles Lakers and the Los Angeles Kings. To kick off the partnership, AEG and Crypto.com will unveil the new logo and new internal arena signage for Crypto.com Arena on Christmas Day, when the Lakers will host the Brooklyn Nets. All of the venue’s external signage will be replaced by June 2022. “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,” Todd Goldstein, chief revenue officer of AEG, said in a statement announcing the partnership. “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.” Don’t miss the latest news. Sign up for Ad Age newsletters here. The naming-rights partnership marks another step in Crypto.com’s steady march to become a more mainstream name. The crypto app claims to have 10 million customers, with various products to meet their needs, including a cryptocurrency exchange, a DeFi wallet (where you store cryptocurrency and assets), and an NFT platform. Crypto.com has leaned heavily into sports partnerships—UFC, F1, Paris Saint-Germain, the Philadelphia 76ers, the Montreal Canadiens, and esports team Fnatic. The company also recently launched its first global campaign featuring Matt Damon, and is expected to run a Super Bowl commercial alongside FTX, a cryptocurrency exchange platform. AEG and Crypto.com’s partnership is valued at over $700 million, according to sources familiar with the agreement. Along with the name rights, Crypto.com will get a 3,300 square foot activation space at the arena’s entrance, and dedicated activation areas on the arena’s main concourse and throughout the L.A. LIVE campus. The Staples Center, which seats 20,000, is the home of the multiple Los Angeles teams: the NBA’s Lakers and Clippers, the WNBA’s Sparks, and the NHL’s Kings. It has been the location of national events including NBA and NHL All-Star Games, the 2000 Democratic National Convention, as well as 19 of the last 21 Grammy Awards shows. “We’re very excited about partnering with AEG and investing long term in this city, starting with Crypto.com Arena in the heart of downtown, and using our platform in new and creative ways so that cryptocurrency can power the future of world class sports, entertainment and technology for fans in LA and around the world,” Crypto.com co-founder and CEO Kris Marszalek said in a statement. In 2009, a decade after its original agreement, Staples announced a "lifetime naming rights" agreement with AEG for the Staples Center.

Staples Center will be renamed Crypto.com Arena

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