Sports and live entertainment company, AEG, has launched a 20-year naming rights agreement with Crypto.com that will rename the AEG-owned and operated Staples Center.
Effective from 25 December, the multi-purpose arena – home of the NBA’s Los Angeles Lakers and LA Clippers, the NHL’s LA Kings and the WNBA’s Los Angeles Sparks – will be known as Crypto.com Arena. This agreement also makes Crypto.com an official cryptocurrency platform partner of the Los Angeles Lakers and the LA Kings.
“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,” commented Todd Goldstein, Chief Revenue Officer of AEG.
“It marks an exciting new chapter in the history of our company and our respective industries, and we couldn’t be more thrilled to have such a visionary partner like Crypto.com supporting our global fan base and local community.”
To kick off the partnership, the partners look to unveil the new logo and other branding assets including internal arena signage of the newly named Arena on Christmas Day, when the Los Angeles Lakers host the Brooklyn Nets. The companies also stated that all of the venue’s external signage will be replaced by June 2022.
“This partnership is about the future,” added Dan Beckerman, President and CEO of AEG. “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.”
Furthermore, the collaboration claims that it is committed to working in the Los Angeles community to ‘prioritise sustainability and community engagement’.
AEG was one of the first companies to adopt a greenhouse reduction goal that’s based on the 1.5 ̊ C global warming limit recommended by the Intergovernmental Panel on Climate Change (IPCC).
Crypto.com Co-Founder and CEO, Kris Marszalek, noted: “Known as the Creative Capital of the World, the city of Los Angeles and the people who call it home have always been pioneers, pushing the boundaries and innovating as the undeniable global leaders of culture and entertainment.”
As the exclusive naming rights partner, Crypto.com will look to engage sports and entertainment fans each year through ‘premium’ branded areas of the arena including a 3,300 sq. ft activation space at the building’s entrance, as well as dedicated activation areas on the main concourse of the arena and throughout the L.A. LIVE campus.
“We’re very excited about partnering with AEG and investing long term in this city, starting with Crypto.com Arena in the heart of downtown, and using our platform in new and creative ways so that cryptocurrency can power the future of world class sports, entertainment and technology for fans in LA and around the world,” added Marszalek.
Additionally, the new relationship will see Crypto.com featured across the venue with large-scale branding and signage throughout the interior and exterior of the facility.