The Los Angeles’ Staples Center will be renamed the Crypto.com Arena on Christmas day. The cryptocurrency exchange will pay AEG, the arena’s owner and operator, $700 million over a 20-year term.
The venue hosts many types of events such as the 2020 Grammy’s and is home to several sports teams, including the NBA’s Los Angeles Lakers and LA Clippers, the NHL’s LA Kings and the WNBA’s Los Angeles Sparks.
“This partnership is about the future,” said Dan Beckerman, President and CEO of AEG. “AEG and Crypto.com not only share a vision about innovation and the future of sports and entertainment, but we also have a shared commitment to our communities where we work and live.”
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