Business Move of the Week: Crypto.com Arena
Updated: Dec 2, 2021
In some of the most shocking news of the week, the iconic Staples Center, home of the Los Angles Lakers and the Los Angles Clippers, will undergo a name change to the Crypto.com arena
AEG, owners and operators of Staples Center, reached a deal with Crypto.com, a rapidly growing cryptocurrency trading platform, over naming rights of the stadium for an estimated $700m over the next twenty years. The deal highlights Crypto.com's push into the mainstream as the cryptocurrency and NFT market continues to ballon. Over the past eight months, Crypto.com has had their hand in several sports sponsorship deals, including UFC and F1.