The stadium Staples Center in Los Angeles will now be the Crypto.com Arena – DiarioBitcoin

The stadium Staples Center in Los Angeles will now be the Crypto.com Arena - DiarioBitcoin

The stadium Staples Center in Los Angeles will now be the Crypto.com Arena - DiarioBitcoin By Daily EditorBitcoin

Los Angeles Stadium is renamed to Crypto.com Arena because the exchange Crypto.com bought the rights. The change will be at Christmas.

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It is very interesting how the crypto ecosystem is gradually establishing itself in other spaces, as a sort of colonizer who appropriates new lands. Thus, in addition, it becomes more and more visible.

The media today report that the iconic sports stadium Staples Center Los Angeles will change its name to Crypto.com Arena. The name agreement, according to LA Times, is extremely important and in his article he titled: “Goodbye Staples Center, hello Crypto.com Arena.”

According to a press release, the name change will be on Christmas Day.

It is worth noting that the stadium, inaugurated in 1999, hosts more than 250 sporting events of all kinds. It is a multipurpose venue located on Figueroa Avenue, in the city of Los Angeles. It is home to two teams of the NBA Los Angeles Clippers and Los angeles lakersIt is also the venue for the annual award ceremony for the Grammy awards. It can host up to 20,000 people in concerts.

Crypto.com Arena name rights

The crypto exchange Crypto.com, based in Singapore, bought the naming rights for 20 years, for the amount of USD $ 700 million, reported LA Times, citing sources familiar with the matter. As highlighted Coindesk, the $ 700 million figure makes it one of the largest naming deals in the history of the sport.

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The new name will be released just on December 25, when Los angeles lakers welcome the Brooklyn nets. However, the external signs, which are expected to change by June 2022, will not be ready yet.

Likewise, the agreement establishes that Crypto.com will also be an official partner of Los angeles lakers and LA Kings.

AEG is the sports and entertainment company that owns and operates the Staples Center, as well as other important sports and music venues such as The O2 in London and Mercedes platz In Berlin.

Other crypto stadiums

As told DiarioBitcoin, There have been other similar deals to change the names of stadiums to crypto-related company names. For example, in August of this year, the exchange FTX bought the stadium naming rights Cal Memorial. The name ‘FTX Field’ is part of a 10-year, $ 17.5 million agreement.

Before that, in March of this year, FTX also concluded a commercial agreement with which it became an official state sponsor of the National Basketball Association team. Miami Heat, formerly known as the American Airlines Arena. FTX acquired the rights to the name of the stadium, for which it paid a total of USD $ 135 million and became the first exchange to sponsor an official sports stadium.

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Sources. Press release, LA Times, Coindesk, file

Version of DailyBitcoin

Picture of Unsplash

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