Crypto.com Pays $700 Million for Lakers Stadium Name Rights

Singapore-based exchange Crypto.com announced today that it has secured the naming rights to the Staples Center – home of the NBA’s Lakers and Clippers for the next 20 years.


The Crypto.com Arena

The deal between Crypto.com and stadium owner AEG is reportedly worth $700 million. It is not the first crypto company to get a stadium name. Earlier this year, crypto exchange FTX signed a $135 million deal to acquire the naming rights to the Miami Heat arena.

And that’s not all. Just last month, Coinbase signed a deal with the NBA, WNBA, affiliated leagues and USA Basketball to have a “brand presence” on all fields of the league.

Basically, basketball fans will start seeing a lot of ads from cryptocurrency companies. December 25 is the day the current Staples Center officially becomes the Crypto.com Arena. All plates will be exchanged in time for the start of the 2022-23 season.


Collaboration with Kings and Lakers

As part of the deal, Crypto.com will also work directly with the LA Kings and Los Angeles Lakers.

We are very excited about partnering with AEG and investing in this city for the long term, starting with Crypto.com Arena in the heart of downtown.

Crypto.com has a presence all over the sports world, with sponsorships for the UFC and Formula 1, as well as individual clubs like Paris Saint-Germain and the Montreal Canadiens.

All in all, the huge sponsorship deals are great news for the mainstream adoption of cryptocurrencies.

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