Staples Center to get new name in rich rights deal


Staples Center is getting a new name. Starting Christmas Day, it will be Crypto.com Arena.

The downtown Los Angeles home of the NBA’s Lakers and Clippers, the NHL’s Kings and the WNBA’s Sparks will change its name after 22 years of operation, arena owner AEG announced Tuesday night.

Crypto.com is paying $700 million, according to multiple reports, over 20 years to rename the building. The parties aren’t publicly announcing the financial terms of what’s believed to be the richest naming rights deal in sports history.

The 20,000-seat arena has been 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. The name will change when the Lakers host the Brooklyn Nets in the NBA’s annual Christmas showcase.

EDITOR’S PICKS

Lakers sign 20-year extension to Staples lease
174d

Ballmer: Clips forging ‘own identity’ with arena
60dRamona Shelburne
Crypto.com is a cryptocurrency platform and exchange headquartered in Singapore. Founded in 2016, Crypto.com has been on a spending spree across the global sports landscape over the past year. The platform has inked high-visibility 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.

AEG, the sports and entertainment conglomerate that has majority ownership of the Kings and had a stake in the Lakers until last summer, built the arena that quickly became a famous setting for major events in the United States’ second-largest metropolitan area.

Along with its sports tenants, the arena has hosted 19 Grammy Awards ceremonies, three NBA All-Star Games, two NHL All-Star Games and countless high-profile concerts, performances and important public events, including memorials for Michael Jackson, Nipsey Hussle and Kobe Bryant.

The Lakers have won six NBA championships during their tenure in the cavernous arena, including three straight in its first three years of operation. Banners commemorating the Lakers’ 17 NBA titles hang high on the walls above the playing floor, providing what might be the most distinctive interior feature of the building.

The Sparks have won three WNBA titles while at Staples Center, and the Kings won their first two Stanley Cup championships (2012 and 2014) there, clinching both on home ice.

The Clippers will be short-timers at Crypto.com Arena. They’re scheduled to open owner Steve Ballmer’s $1.2 billion, 18,000-seat Intuit Dome in neighboring Inglewood in 2024 when their Staples Center lease expires. However, the Clippers were among the first to react to the name change after hosting the San Antonio Spurs on Tuesday night.

“It’s kind of like just stripping the history here by calling it something else,” said Paul George, who grew up in Palmdale, outside of Los Angeles.

Reggie Jackson also had a hard time processing the name change.

“[The Lakers] have their history here, Kobe, especially my era, growing up, watching those championships. Shaq [O’Neal]. Nah, it’s too many memories. It’s gonna be hard to not call it Staples,” he said.

The Associated Press and ESPN’s Ohm Youngmisuk contributed to this report.

Got a story or tip for us? Email Sports Gossip editors at tips@sportsgossip.com 

Want More From Sports Gossip? 

For all the latest breaking Sports Gossip, be sure to follow SportsGossip.com on FacebookInstagram, and Twitter.

You can view the original article HERE.

Michigan Politician Swears Gonzaga Hoops Team Buses Are Full Of ‘Illegal Invaders’
Kanye West Avoided Diddy Meetup During Rolling Loud Performance
Marvel’s Blade Delayed Amid Writers Strike
Diddy Seen Talking with Federal Agents at Airport as Associate is Arrested
Sydney Sweeney Swaps Madame Web’s Spider-Woman For Power Girl in DC Fan Art
Giancarlo Esposito Can’t Keep Overcrowded, Rushed Parish on the Road | TV/Streaming
Femme Review | An Edge-of-Your-Seat Queering of the Neo-Noir Crime Thriller
Gillian Anderson Reveals Why She Almost Gave Up Acting 24 Years Ago
Fake and laced benzos are circulating in the UK – causing a “fentanyl-style epidemic”
Lzzy Hale to front Skid Row for upcoming tour
Cillian Murphy reveals he’s gone vegan
‘The Bear’ star is favourite to play Bruce Springsteen in new movie
Panthers sign Clowney to reported 2-year deal
Ham thrilled as Lakers rally for ‘top-3’ win of year
Report: Cowboys haven’t made Dak extension offers
The Money Game: How Much Can College Athletes Earn with NIL
One Euphoria Actor Doubts Season 3 Will Ever Be Made
Chicago PD Season 11 Episode 8 Review: On Paper
Malcolm in the Middle Revival Now the ‘Closest It’s Ever Been,’ Frankie Muniz Reveals
The Good Doctor Season 7 Episode 4 Review: Date Night
Jenna Lyons, Jessel Taank, and More Announce Return!
Swarovski’s Underwater Glamazons, Megahn Markle’s Beauty Line, & More!
Cher’s Closet From Clueless Is Becoming A Reality, Thanks To Vêtir
Suki Waterhouse and Robert Pattinson Welcome Their First Baby!