LOS ANGELES—In another sign cryptocurrency is moving mainstream, the Staples Center now has a new name: Crypto.com Arena.
The downtown Los Angeles venue—home of the NBA’s Lakers and Clippers, the NHL’s Kings and the WNBA’s Sparks—will wear the new name for 20 years under a deal between the Singapore cryptocurrency exchange and AEG, the owner and operator of the arena.
Crypto.com paid more than $700 million for the naming rights, making it one of the biggest naming deals in sports history, the Los Angeles Times reported.
All of the arena’s signage will be replaced with the new name by June 2022. Crypto.com’s chief executive, Kris Marszalek, said he hopes that the new name will come to be seen as a sign of the times, the Times noted.