U.S. News

Staples Center to Be Renamed Crypto.com Arena

NBC Staff
An exterior view of Staples Center in downtown Los Angeles on August 29, 2015 in Los Angeles, California.
Bauer-Griffin | GC Images | Getty Images

Staples Center will be renamed Crypto.com Arena, under a 20-year naming rights agreement between the cryptocurrency platform and AEG.

The official home of the NBA's Los Angeles Lakers and LA Clippers, the NHL's LA Kings and the WNBA's Los Angeles Sparks will be renamed Dec. 25.

A new logo will be unveiled Christmas Day, when the Los Angeles Lakers host the Brooklyn Nets.

The 20,000-seat Staples opened its doors in 1999 in downtown Los Angeles and has hosted hundreds of events.

"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 news 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."

Todd Goldstein, chief revenue officer of AEG, said it marks an exciting new chapter.

"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," he said.