Home court of Lakers, Clippers to be renamed Crypto.com Arena

By Can Erozden

ANKARA (AA) - NBA teams Los Angeles Lakers' and LA Clippers' home court the Staples Center will be renamed Crypto.com Arena this Christmas.

The Staples Center said on its website on Tuesday that a cryptocurrency platform, Crypto.com, bought the naming rights of the Los Angeles' multi-purpose arena for 20 years over an agreement with AEG, the owner and operator of the sports and event hall.

It added that the arena will have its new name on Dec. 25.

Opened in 1999, the Staples Center is also the home of the WNBA’s Los Angeles Sparks and the NHL franchise Los Angeles Kings, a professional ice hockey team.

The Staples Center can also host boxing matches and concerts.

The arena's seating capacity for basketball and ice hockey games is around 19,000 and it is reduced to 10,000 for concerts and concert theatres.

The financial terms were not disclosed but the Los Angeles Times reported that Crypto.com has paid at least $700 million to purchase the naming rights of the Staples Center as this could be one of the largest venue naming deals in the US.

Also, the deal with parties has made Crypto.com become the "official cryptocurrency platform partner" of the Lakers and the Kings.