A 700 million dollar naming rights deal
The house that Kobe Bryant built, the Staples Arena, will be going through a name change. In what is one of the largest naming rights deal ever made, Crypto.com has bought the rights to renaming Staples Center to Crypto.com Arena for $700 million/20 year deal
Crypto.com is a cryptocurrency platform and exchange business based in Singapore. The rebranding ushers in a generational shift in which cryptocurrencies dominates the new business world and the renaming rights reflects that as it makes its move to gain mainstream recognition.
With the name change going into effect Christmas Day, the Arena will continue to be home for Los Angeles Lakers, Clippers, NHL’s Kings and WNBA’s Sharks.