Downtown Los Angeles’ famous Staples Center, home of the Lakers, Clippers, Kings & Sparks, will wear a new name for the next 20 years. Following a deal between AEG & the Singapore cryptocurrency agency, the Staples Center will be renamed Crypto.com.
The 5-year old Crypto.com has the goal of becoming a top-20 brand within the next 3 to 5 years & currently has 10 million users and 3000 employees. Crypto.com paid more than $700 million for the venue, making it one of the biggest naming deals in sporting history.
The new logo will make its debut on Christmas day as the Lakers host the Brooklyn Nets. All staples center logos will be replaced by June 2022. Kris Marszalek, the CEO of Crypto.com, stated that the new name would signify the changing of the times, and it’s exactly what downtown LA needs. Dan Beckerman, Chief Executive Officer of AEG, commented that the deal was a “match made in heaven.”
The two parties are still working on extending the partnership beyond the name change, but it is speculated that cryptocurrency exchanges and online purchases are on the horizon.
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