Since the venue opened in 1999, its ONLY been known as 'Staples Center' going on 20+ years, but that is about to be no more. Die-hard fans who have enjoyed countless Lakers, Clippers, LA Sparks & LA Kings games, and now have to get used to the NEW venue name. Crews were spotted taking down the iconic red letters that read 'Staples Center' OFF the marque and any signage of that name, preparing for the NEW name 'Crypto.com Arena' starting Christmas day. Reports say the new naming rights deal was an estimated $700 million for the next 20 years, inwhat's believed to be the richest naming rights deal in sports history.
According to ABC news, Crypto.com is a cryptocurrency platform and exchange headquartered in Singapore. Founded in 2016, Crypto.com has been on a spending spree across the global sports landscape over the past year. The platform has inked high-visibility sponsorship deals with Formula One, the UFC, Italy's Serie A, Paris St-Germain and the NHL's Montreal Canadiens - while also purchasing the Philadelphia 76ers' uniform sponsorship patch.