Crypto.com Secures Naming Rights for Los Angeles' Iconic Staples Center

Crypto.com has reportedly committed $700 million over 20 years to rename the renowned Staples Center, the premier sports and entertainment venue in Los Angeles. This rebranding is set to launch on Christmas Day 2021, coinciding with a nationally broadcast NBA game featuring the Los Angeles Lakers versus the Brooklyn Nets.

The Staples Center serves as the home court for the Los Angeles Lakers and Clippers of the NBA, as well as the Los Angeles Kings of the NHL. By associating its brand with this iconic arena and its prominent tenants, Crypto.com aims to significantly elevate its profile in the competitive cryptocurrency market.

Highlights

• Crypto.com has purchased naming rights to the Staples Center in Los Angeles.
• The venue will debut its new name during a high-profile NBA game on Christmas Day 2021.
• This partnership links Crypto.com with the prestigious Los Angeles Lakers, one of the NBA's most valuable franchises.

Strategic Brand Partnerships

Valued at $5.5 billion by Forbes, the Los Angeles Lakers rank as the NBA's third most valuable team, following the New York Knicks and Golden State Warriors. The Los Angeles Kings hold a valuation of $825 million, ranking sixth in the NHL.

The $700 million naming rights agreement underscores the escalating value of premium sports venue sponsorships in major metropolitan markets. For context, Staples secured the original 20-year naming rights deal for $116 million in 1999, which was later extended in 2009.

Beyond arena naming rights, Crypto.com has invested $100 million in Formula 1 sponsorships and partnered with the NHL's Montreal Canadiens, whose logo is prominently displayed at the Bell Centre. The Canadiens are valued at $1.34 billion, ranking third in the NHL behind the New York Rangers and Toronto Maple Leafs.

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