After operating under the same name for over two decades, the Staples Center will soon be known by another name.
The home of the Lakers, Clippers, Sparks and Kings will reportedly be renamed for new sponsor Crypto.com as part of a multi-year deal, according to The Athletic contributor Alicia Jessop. The agreement is believed to be the largest naming rights deal in the U.S. and will take effect on Dec. 25, per The Athletic's Shams Charania.
Crypto.com is believed to have paid over $700 million for the naming rights, according to Sam Dean of the Los Angeles Times. Founded in 2016, the website bills itself as the "world's fastest growing crypto app," and offers products such as NFTs and metal Visa cards.
“In the next few years, people will look back at this moment as the moment when crypto crossed the chasm into the mainstream,” Crypto.com CEO Kris Marszalek told the Los Angeles Times. “This is just such a brilliant move from the guys at AEG, because the next decade belongs to crypto. And this positions L.A. and this particular venue right at the center of it.”
The Staples Center opened in 1999 and has hosted home games for the Lakers, Clippers, Sparks and Kings ever since.
More NBA Coverage:
- 'I Hope People Keep Doubting Us': The Warriors Are Relishing the Skepticism
- Giannis Hints at Future Milwaukee Exit: 'Next Challenge Might Not Be Here'
- Cavaliers Rookie Evan Mobley Out 2-4 Weeks With Elbow Sprain
- NBA Power Rankings: Warriors, Nets Battle for No. 1 Spot
- All Lakers: DeMar DeRozan Thought He Would Be Traded to the Lakers
For more Lakers coverage, head to All Lakers.