Staples Center to become Crypto.com Arena on Christmas

Nov. 17, 2021 6:42 AM ETBy: Kim Khan, SA News Editor8 Comments

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  • Crypto.com will be the new sponsor of the home of the Los Angeles Lakers, with the unveiling coming at a Dec. 25 home game.
  • The Singapore-based cryptocurrency exchange will pay an estimated $700M over 20 years for sponsorship rights, Bloomberg reports, citing two people familiar with the matter.
  • The Staples Center is owned by the Anschutz Entertainment Group and is the home to the NBA's Lakers and Clippers, the WNBA's Sparks and NHL's Kings.
  • The Lakers left the famed L.A. Forum in Inglewood in 1999.
  • “If I had to pick one place to have naming rights, it would be Staples Center,” in the world’s cultural capital, said Kris Marszalek, Crypto.com CEO, according to Bloomberg. “This is in line with our ambition to be a top brand in the coming years, next to Nike and Apple.”
  • In September, Crypto.com signed a $30M sponsorship deal with French soccer powerhouse Paris-St. Germaine. It also has other sponsorship deals in NBA and NHL and with Formula 1, UFC and e-sports.
  • Yesterday, it was reported that Fenway Sports Group is near a deal to buy the Pittsburgh Penguins.

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