'Worst ever': NBA fans savage $962 million name change

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·Sports Reporter
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The Staples Center being used during the US election.
The Staples Center will change its name to Cryto.com Arena after a huge sponsorship deal. (Getty Images)

The sporting world has been left stunned after the iconic Staples Center has announced it will change its name to Crypto.com Arena after a new sponsorship deal.

Staples Center, home to the Los Angeles Lakers and Clippers since 1999, will undergo the name change following the biggest naming rights deal in US history.

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The 20-year agreement for the AEG-owned and operated venue will be effective from Christmas Day, AEG said.

The NHL's LA Kings and the WNBA's Los Angeles Sparks also play at the arena.

The Los Angeles Times, citing unidentified sources, reported that the Singapore-based Crypto.com platform paid more than $AUD962 million for the naming rights. 

Crypto.com was not immediately available for comment though it confirmed the deal in a statement on its website.

The deal certainly raised eyebrows with sport fans taking aim at the huge change after a number of iconic moments took place at the arena known as Staples Center.

Crypto.com name change

In over 20 years, the venue has been the stage for high-profile events like the Grammys and concerts by the likes of Taylor Swift, Beyoncé and Ed Sheeran.

Cryptocurrencies have attracted a surge of interest in recent months, as mainstream investors and companies embrace bitcoin and other digital token.

In a joint statement published on the Staples Center's website, the parties said that the deal would make Crypto.com an official cryptocurrency platform partner of the Los Angeles Lakers and the LA Kings.

Recently, soccer club Paris St Germain announced that Lionel Messi's signing fee at the club included some cryptocurrency fan tokens.

Crypto.com was founded in 2016. The actor Matt Damon is an investor in the platform and he recently took part in a campaign to promote it.

with Reuters

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