Goodbye, Staples Center. Hello, Crypto.com Arena: LA Times

Staples Center is getting a new name for Christmas: Crypto.com Arena, the Los Angeles Times reported.

The downtown Los Angeles venue — home of the Lakers, Clippers, Kings and Sparks — will wear the new name for 20 years under a deal between the Singapore cryptocurrency exchange and AEG, the owner and operator of the arena, both parties announced.

Crypto.com paid more than $700 million for the naming rights, according to sources familiar with the terms, making it one of the biggest naming deals in sports history.

Read the full report: Los Angeles Times

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George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.