Crypto.com announced it signed an agreement with AEG to change the name of the famous Los Angeles venue, The Staples Center. The new name will be Crypto.com Arena. The purchase price for the naming rights was over $700 million.
The deal will last for 20 years, and is effective starting this year on December 25, Christmas Day. The companies will replace all Staples Center signage with Crypto.com by June 2022. It is the biggest naming deal on record.