All good things have to come to an end! Since 1999, the Staples Center has been home to the Los Angeles Lakers, Los Angeles Clippers, and Los Angeles Sparks. However, a new deal puts an end to that and changes the name. Corresponding The Los Angeles Times, the new name of the venue will be Crypto.com Arena. It will be in effect for 20 years under an agreement between the Singapore Cryptocurrency Exchange and AEG, the owner and operator of the arena.
Crypto.com spent a lot of money to make this deal a reality. They reportedly paid more than $ 700 million for the naming rights. Commenting on the deal, Crypto.com CEO Kris Marszalek said he hopes people will see it as a sign of the times. “For the next several years, people will look back on that moment as the moment when crypto crossed the divide into the mainstream,” Kris said on the phone.
Kris continued, “This is just a brilliant move by the AEG guys because the next decade is crypto,” he said. “And that positions LA and this special venue right in the middle.” Crypto.com also reportedly paid more than five times as much for the rights to LA’s arena as it has in the past. Kris didn’t stumble upon the large investment, however. He stated, “I have no doubt that it was worth it. I am 100% convinced. “
The arena’s new logo will debut this Christmas when the Lakers play against the Brooklyn Nets. The remaining signage of the Staples Center will be replaced by the signage with the new name by June 2022. Roommate, leave a comment and let us know what you think of the upcoming name change?
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