Kirby Lee-USA TODAY Sports

Staples Center to be renamed Crypto.com Arena

By Chelena Goldman | Last updated Nov 17, 2021 12:52 PM ET

Staples Center in Los Angeles will be renamed Crypto.com Arena as part of a $700 million naming rights deal, multiple platforms confirmed.

Staples Center – the iconic home of the Los Angeles Lakers and Clippers among others since 1999 – will have a new name beginning Dec. 25: https://t.co/lur8Hbuv0r Arena. It’s believed to be the largest U.S. venue naming rights deal to date.
— Shams Charania (@ShamsCharania) November 17, 2021

The name change is set to go into effect on Christmas Day in time for the Lakers to host the Brooklyn Nets.

The downtown Los Angeles event space has been named Staples since it opened in October 1999. Crypto.com, which calls Singapore its home base, will pay the large sum over a 20-year span to have its name on the building.

We're extremely proud to announce that Staples Center, Los Angeles' most iconic arena is getting a new name:

https://t.co/vCNztATkNg Arena

As part of this 20 year partnership, we're also excited to welcome the @Lakers & @LAKings as our newest partners! pic.twitter.com/KCfYKySDRt
— Crypto.com (@cryptocom) November 17, 2021

Whether the name will stick for those 20 years is already up for debate. (L.A. Times columnist David Lazarus has already tackled that angle.) Plus, to no one's surprise, outlets are already giving the new name a resounding thumbs down.