Staples Center Is Getting a New Name in Massive $700 Million Deal

The Staples Center is getting a new name, and it’s happening very soon.

The iconic arena in Los Angeles, which opened on October 17, 1999, has always been known as the Staples Center and is the home to the Los Angeles Kings of the National Hockey League (NHL), the Los Angeles Lakers and the Los Angeles Clippers of the National Basketball Association (NBA), and the Los Angeles Sparks of the Women’s National Basketball Association (WNBA).

Click inside to read the new name and when it’ll happen…

Now, the Staples Center will be renamed the “Crypto.com Arena.”

Crypto.com is reportedly paying $700 million over 20 years for the naming rights to the arena, ESPN reports. The name change will take effect beginning on Christmas Day, 2021 when the Lakers host the Brooklyn Nets.