Staples Center Getting Renamed in Los Angeles

So long, Staples Center, we hardly knew ya. It's been announced the downtown Los Angeles venue is being renamed to the Crypto.com Arena.

Staples Center is not only home to the Los Angeles Lakers and Clippers of the NBA, the NHL's Los Angeles Kings call it home, as do the WNBA's Los Angeles Sparks. The landmark location will soon be changing it's name and not everyone is happy about the news.

The new rights are owned by Anschutz Entertainment Group and the deal is worth over $700 million for a 20-year term. The new name goes into place on Christmas Day. Todd Goldstein, AEG's chief revenue officer had this to say about the transaction:

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

The crypto world is starting to get very heavily involved in sports as this is one of the latest avenues for them to get their name out. The name change will effect the Lakers a touch more than the Clips as the Clippers plan to move to the Intuit Dome in Inglewood for the 2024 season.