By Eurohoops team/ info@eurohoops.net
The home arena of the Los Angeles teams, the Lakers and the Clippers, Staples Center will be renamed to Crypto.com Arena starting Christmas Day (December 25).
Crypto.com is reportedly paying 700 million dollars over 20 years to rename the building. The parties didn’t publicly announce the financial terms of what’s probably the richest naming rights deal in sports history.
The 20,000-seat arena has been called Staples Center since it opened in October 1999, with the naming rights owned by the American office-supplies retail company under a 20-year agreement.
Crypto.com is a cryptocurrency platform and exchange headquartered in Singapore that was founded in 2016. Crypto.com has been present across global sports over the past year. The platform has inked sponsorship deals with Formula One, the UFC, Italy’s Serie A, Paris St-Germain and the NHL’s Montreal Canadiens, while also purchasing the Philadelphia 76ers’ uniform sponsorship patch.