Unveiling Blockchain, Exploring Crypto Coins, and Embracing the World of NFTs snaps up naming rights for the Staples Center in $700 million deal |, a sportsbook and cryptocurrency exchange based in Costa Rica, has snapped up naming rights for the Staples Center in Los Angeles from the owners of the NBA’s Lakers. The deal is worth $700 million over 20 years with an option to extend that period by four additional years. is a cryptocurrency company that has recently purchased naming rights for the Staples Center in Los Angeles, California. The deal was worth $700 million and will last until 2028.

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The legendary Staples Center in Los Angeles will be renamed Arena ( Arena) is on December 25.

Crypto exchange negotiated a $700 million 20-year contract to claim branding rights, according to CNBC, citing a source familiar with the matter. Arena

The Los Angeles Lakers will play the Brooklyn Nets in the NBA’s traditional Christmas Day games in December, and Staples Center will be renamed Arena.

We’re thrilled to announce that Staples Center, Los Angeles’ most recognizable venue, will be renamed: Staples Center.


We’re also thrilled to welcome the @Lakers and @LAKings as our newest partners as part of our 20-year commitment!

November 17, 2021 — (@cryptocom)

The agreement between and AEG, the arena’s owner and operator, binds the Singapore cryptocurrency exchange to the famed basketball and hockey clubs, the Los Angeles Lakers and Los Angeles Kings.

Starting in 1999, Staples paid $116 million for the naming rights to the arena over a 20-year period, according to the article.

“People will look back on this event as the time when crypto crossed the divide into the mainstream in the next few years,” CEO Kris Marszalek told the Los Angeles Times.

Aside from sporting events, the arena has hosted big events such as the Grammy Awards and has carved itself a significant cultural presence in the city.

Adoption of cryptocurrency by the general public 

“When we think about the kind of brands that we prefer to collaborate with, it’s a bit of a marriage made in heaven,” AEG president and CEO Dan Beckerman told the Los Angeles Times.

“To make a statement and promote adoption, is searching for the most distinctive branding platform, and we’re looking for a creative, forward-thinking firm to help us chart a route for the future of sports and entertainment events,” he said. has a number of commercial sports collaborations, but the Philadelphia 76ers are the first in the NBA.

The 76ers announced the creation of their first-ever non-fungible token (NFT), accessible via NFT, to kick off the arrangement, which made the team’s official jersey patch partner.

The Singapore-based crypto exchange also negotiated a partnership with the National Hockey League’s Montreal Canadiens earlier this year, and earned a $100 million sponsorship in Formula 1’s Sprint series.

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Like what you’ve seen so far? Stay up to date by subscribing. has signed a deal to become the naming rights sponsor of the Staples Center, home of the Los Angeles Lakers and Clippers. The company paid $700 million for the sponsorship period that will run from 2023 through 2025. Reference: crypto sponsor nba.

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