Staples Center, home of the Lakers, renamed Crypto.com Arena: NPR



A statue of the great Kareem Abdul-Jabbar of the Los Angeles Lakers stands outside the Staples Center in 2020 in Los Angeles. The Staples Center is going to be renamed.

Chris Pizzello / Chris Pizzello / Invision / AP


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Chris Pizzello / Chris Pizzello / Invision / AP


A statue of the great Kareem Abdul-Jabbar of the Los Angeles Lakers stands outside the Staples Center in 2020 in Los Angeles. The Staples Center is going to be renamed.

Chris Pizzello / Chris Pizzello / Invision / AP

One of Los Angeles’ most iconic sports and entertainment venues changes its name after two decades.

Staples Center will change from an office supply chain name to a cryptocurrency platform when it becomes the Crypto.com Arena next month.

This is thanks to a new agreement between AEG – which owns and operates the site – and Singapore-based Crypto.com. They will unveil the new logo and branded arena hardware when the Los Angeles Lakers host the Brooklyn Nets on Christmas Day, according to the announcement, and all of its exterior signage will be replaced by June 2022.

“This partnership is about the future,” Dan Beckerman, chairman and chief executive officer of AEG, said in a statement. “AEG and Crypto.com not only share a vision for innovation and the future of sport and entertainment, but we also have a common commitment to our communities where we work and live.”

The 20,000-seat site hosts more than 240 events each year and has a particularly rich history. Among other accolades, it is the official home of local teams like the NBA Lakers and Clippers, NHL Kings and WNBA Sparks.

Staples office supply retailer bought the naming rights instead – which opened in 1999 – at a cost of $ 116 million over 20 years.

ESPN and others point of sale report that Crypto.com is paying $ 700 million over 20 years to rename the building, in what is considered the richest naming rights deal in sports history. The deal also makes Crypto.com an “official cryptocurrency platform partner” of the Los Angeles Lakers and LA Kings, according to the announcement.

So what will this new arrangement look like for spectators? Lots of Crypto.com signage and branding, including in the form of a 3,300 square foot “activation space” at the entrance to the building and “dedicated activation areas” throughout the arena.

Crypto.com and AEG also say they want to work with the community to prioritize sustainability and local engagement. In the press release, they note that AEG was one of the first companies to adopt a greenhouse effect reduction target based on the global warming limit of 1.5 ° C recommended by the Group. intergovernmental experts on climate change, and Crypto.com has pledged to become carbon negative by the end of 2022.


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