LOS ANGELES (CelebrityAccess) — Sports and entertainment giant AEG announced it has secured a major sponsorships deal with cryptocurrency platform, Crypto.com that includes naming rights for AEG’s flagship arena, the Staples Center.
As part of the 20-year deal, the multi-purpose arena, which hosts hundreds of annual marquee events and serves as the official 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.
According to AEG, the two companies will officially reveal the new logo, internal signage, and other branding assets on December 25th as the Los Angeles Lakers host the Brooklyn Nets and all of the venue’s signage will be updated by June 2022.
This agreement will also make Crypto.com an official cryptocurrency platform partner of the Los Angeles Lakers and the LA Kings.
“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,” said Crypto.com Co-Founder and CEO, Kris Marszalek. “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.”
“This partnership is about the future,” said 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.”
Nick Baker and Russell Silvers, Co-Chief Operating Officers of AEG Global Partnerships, led AEG’s side of the negotiations, while Steven Kalifowitz, Chief Marketing Officer of Crypto.com and Gilad Rodkin, Senior Vice President of Marketing, represented Crypto.com.
The financial terms of the transaction were not disclosed.