It seems like “The House That Kobe Built” will start going by another name next month.
Crypto.com, a Singapore-based company that has recently partnered up with a number of celebs and sports teams, inked a 20-year deal with Anschutz Entertainment Group (AEG), the owner of the famous arena, for the naming rights to the building. The deal went for a hefty sum of $700 million (P35 billion), according to an insider familiar with the terms.
This makes it one of the largest naming rights deals in sports history. And for good reason.
The Staples Center is the known home of the Los Angeles Lakers, Clippers, WNBA’s Sparks, and the National Hockey League’s Kings franchise. From time to time, it also hosts memorable concerts and events, like Wrestlamania, X Games, and the Grammys. Many see it as one of the more iconic establishments in L.A.
The name change will reportedly take place on Christmas day, when the Los Angeles Lakers host the Brooklyn Nets. By June 2022, all Staples Center external signs will also be changed.
“This partnership is about the future,” AEG president and CEO Dan Beckerman said in a statement. “AEG and Crypto.com not only share a vision about innovation and the future of sports and entertainment, but we also have a shared commitment to our communities where we work and live. We look forward to partnering with Crypto.com to create meaningful initiatives to bring that vision to life in the years to come.”
Crypto.com’s chief executive, Kris Marszalek, also sees the move as a vision of the future. “In the next few years, people will look back at this moment as the moment when crypto crossed the chasm into the mainstream,” Marszalek said. “This is just such a brilliant move from the guys at AEG, because the next decade belongs to crypto. And this positions L.A. and this particular venue right at the center of it.”
Art Daniella Sison