The Staples Center will have a new name later this month, leading to the arena making a big change. On Monday, a video surfaced of the Staples Center sign being taken down as the famous sports venue gets ready to be called the Crypto.com Arena. Staples Center is home to NBA's Los Angeles Lakers and Los Angeles Clippers.
The announcement of the name change was named last month. AEG announced that the Staples Center would be called Crypto.com Arena starting on Christmas Day. Crypto.com, a cryptocurrency platform and exchange, is paying $700 million for the naming rights to the building.
The rebranding of Staples Center began early this morning as crews began removing the iconic red lettering from the building’s exterior in advance of it being renamed "https://t.co/OGZiUlqnfk Arena." A new logo and other branding assets are set to be unveiled on Christmas Day. pic.twitter.com/P3y4Y2EEg4— Spectrum News 1 SoCal (@SpecNews1SoCal) December 6, 2021
"Known as the Creative Capital of the World, the city of Los Angeles and the people who call it home have always been pioneers, pushing the boundaries and innovating as the undeniable global leaders of culture and entertainment," said Crypto.com Co-Founder and CEO, Kris Marszalek in a press release. "We're very excited about partnering with AEG and investing long term in this city, starting with Crypto.com Arena in the heart of downtown, and using our platform in new and creative ways so that cryptocurrency can power the future of world-class sports, entertainment and technology for fans in LA and around the world."
"This partnership represents the fastest-growing cryptocurrency platform and the biggest sports and live entertainment company in the world converging to drive the future of sports and live entertainment as well as the incredible legacy of this arena for decades to come," said Todd Goldstein, Chief Revenue Officer of AEG. "It marks an exciting new chapter in the history of our company and our respective industries, and we couldn't be more thrilled to have such a visionary partner like Crypto.com supporting our global fan base and local community."
Staples Center opened in 1999 and is also home to the Los Angeles Sparks of the WNBA and the Los Angeles Kings of the NHL. The Lakers have seen the most success in the arena, winning six NBA titles during that span. The Clippers will not be in the Staples Center/Crypto.com Arena for much longer as they will play in a new area, the Intuit Dome, starting in 2024. The new arena will be located in Inglewood, California, and just south of SoFi Stadium, which is home to the NFL's Los Angeles Rams and Los Angeles Chargers.