LOS ANGELES - The iconic home of the Los Angeles Lakers, Clippers, Sparks and Kings will soon have a new name.
According to a press release sent out Tuesday, Staples Center, known by many as the "House that Kobe Built," will be renamed to Crypto.com Arena starting Christmas Day of 2021.
AEG and Crypto.com will unveil the new logo on Dec. 25 and all signage is expected to be replaced across the arena by June 2022.
Crypto.com shared a photo of what the arena will soon look like.
The agreement includes official designations across Crypto.com Arena, L.A. LIVE, Microsoft Theater, The Novo, the Los Angeles Lakers and the Los Angeles Kings.
The agreement also makes Crypto.com an official cryptocurrency platform partner of the Lakers and Kings. Crypto.com paid more than $700 million for the naming rights, making it one of the biggest naming deals in sports history. Crypto.com set a 20-year naming rights agreement with the owner AEG.
"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 L.A. and around the world," said Crypto.com co-Founder and CEO, Kris Marszalek.
Crypto.com claims to have more than 10 million customers. Its headquarters are in Singapore and employs more than 2,600 people in offices across the Americas, Europe and Asia.
The company was founded in 2016. It recently began a global campaign featuring actor Matt Damon to formally introduce the platform.
Heading into the proposed name change, Staples Center had been the home of the Lakers, Clippers, Sparks and Kings since 1999. The arena had also hosted countless high-profile musicians. Staples Center was also chosen as the venue for memorial services of Kobe Bryant, Nipsey Hussle and Michael Jackson.
City News Service contributed to this report
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