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Staples Center in Los Angeles is soon to be rechristened Crypto.com Arena, in a 20-year deal worth more than $700m, according to a person familiar with the agreement. The new name becomes official on Christmas Day, when the venue plays host to the L.A. Lakers-Brooklyn Nets NBA contest.
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“It’s the perfect match,” said Dan Beckerman, president and CEO of AEG, in a phone interview. “They were looking for a one-of-a-kind branding platform. We were looking for an innovative progressive company to help us chart the course of the arena. L.A. is always about what’s next.”
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