How Much Did Crypto.com Pay for the Staples Center?

In September of 2019, it was announced that Crypto.com had purchased the naming rights to the Staples Center in Los Angeles. The arena is now officially known as the Crypto.com Arena.

So how much did Crypto.com pay for the Staples Center? The answer may surprise you.

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Staples Center

The Staples Center, located in downtown Los Angeles, is a multipurpose arena and home to four professional sports teams: the NBA’s Los Angeles Lakers and Los Angeles Clippers, the NHL’s Los Angeles Kings, and the WNBA’s Los Angeles Sparks. The venue also hosts concerts, conventions, and other sporting and entertainment events. The naming rights to the Staples Center were acquired by crypto.com in a 10-year, $152 million deal that was announced in October 2019. The agreement includes signage at the arena, as well as cryptocurrency-related events and content that will be produced by crypto.com and made available to the arena’s fans.

What is the Staples Center?

The Staples Center is a large multi-purpose arena in Downtown Los Angeles. Adjacent to the L.A. Live development, it is located next to the Los Angeles Convention Center complex along Figueroa Street. Opening on October 17, 1999, it is one of the major sporting facilities in the Greater Los Angeles Area. It is owned and operated by Anschutz Entertainment Group. The arena seats up to 20,000 people for basketball, 18,000 for ice hockey, and around 19,000 for concerts or other sporting events.

How much did Crypto.com pay for the Staples Center?

Staples Center is a multi-purpose arena in Downtown Los Angeles. Crypto.com, the world’s leading cryptocurrency platform, has announced that it has entered into a partnership with the Los Angeles Clippers, acquiring the naming rights to the team’s home arena, Staples Center. The partnership is a multi-year agreement that will see Crypto.com Pay become the preferred payment partner of the Clippers and Staples Center.

Crypto.com

Crypto.com is a digital asset and cryptocurrency platform that was first established in 2016. The company is headquartered in Hong Kong and has a team of over 70 people.

What is Crypto.com?

Crypto.com is a cryptocurrency company that allows users to buy, sell, and store cryptocurrencies. The company also has a prepaid debit card that can be used to spend cryptocurrencies at merchants that accept Visa. Crypto.com was founded in 2016 and is headquartered in Hong Kong.

How much did Crypto.com pay for the Staples Center?

Crypto.com, the Hong Kong-based cryptocurrency startup, has acquired the naming rights to the home of the Los Angeles Lakers and Los Angeles Clippers.

The Staples Center will now be known as the Crypto.com Arena, in a multi-year deal that is believed to be worth around $10 million.

This is not the first time that a cryptocurrency company has got involved in the world of sports sponsorship, with Ethereum-based decentralized prediction market Augur also holding a naming rights deal with an NBA team, the Brooklyn Nets.

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