The Staples Center is home to many worldwide and household names. Home of the Los Angeles Lakers and Los Angeles Clippers, the arena has witnessed many of the greatest athletes on the planet. The arena has held multiple UFC events, an NBA finals series, an NHL final series and multiple other major events. Famous musicians and celebrities like Taylor Swift, Nipsey Hussle and Michael Jackson have all played at the venue before.

The recent name change has come in part of $700 million deal with Crypto.com to rename the arena and making it one of the biggest naming deals in sports history. Athletes like Lebron James and Giannis Antetokounmpo have already started having crypto base salaries and more athletes are begging to do the same thing.

Crypto.com is a Hong Kong-based company and has only been operating for five years. The owner, Kris Marszalek, has never attended a game in the arena before, and the unveiling of the new logo and name on the arena will be his first ever time seeing it. The franchise is worth over $5.5 billion and has been a massive success in just its short time of being a company.

The unveiling of the name arena logo will be held on Christmas Day. It will take place during the Lakers hosting of the Nets NBA game and will be televised. AEG owner said this about the new partnership, “We look forward to partnering with Crypto.com to create meaningful initiatives to bring that vision to life in the years to come.”

AEG and Crypto.com share a common goal with the innovation of sports and entertainment and help this new change will encourage more changes.