Staples Center to be renamed Crypto.com Arena in $700m deal

Will be renamed on Christmas Day

Staples Center, the home arena to NBA teams Los Angeles Clippers and Los Angeles Lakers, is set to be renamed Crypto.com Arena.

On December 25th, the official home of NBA teams Los Angeles Lakers, LA Clippers, and WNBA's Los Angeles Sparks, along with the NHL's LA Kings, will change its logo and in-arena signage.

A source has revealed that Crypto.com is paying $700m over the next 20 years to rename the arena, which if true, would make it the most expensive naming rights deal in sports history.

"In the next few years, people will look back at this moment as the moment when crypto crossed the chasm into the mainstream," Crypto.com CEO Kris Marszalek said.

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