The Staples Center in downtown Los Angeles will be renamed Crypto.com Arena.
On Christmas Day, the home of the NBA’s Lakers and Clippers, the NHL’s Kings, and the WNBA’s Sparks will change its name for the first time since its opening in 1999, after 22 years of operation.
According to a source who spoke to The Associated Press, Crypto.com is paying $700 million over 20 years for the new title, which is believed to be the most expensive naming rights deal in sports history. Back in 1999, Staples Inc. paid $100 million for the naming rights for a 10 year period, which they later extended in 2009. The deal with Crypto.com is part of its initiative to build on the brand’s growing roster of sports partnerships.
The 2021-22 NBA season will mark a milestone as the league celebrates its 75th time games will be broadcasted during the holiday. Commissioner of the NBA, Adam Silver revealed at a conference in early October that because of pandemic restrictions, NBA’s 2020 opening week began on December 22nd to the 25th, with an average of 3.4 million viewers. Still, the Christmas game between the Los Angeles Lakers and the Dallas Mavericks averaged 7 million viewers.
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