Sports fans and angels alike had mixed feelings when they learned that the Staples Center had become the “Crypto.com Arena” – the first name change since the venue opened in 1999 – announced on Tuesday, November 16th.
On Christmas Day, the Staples Center will be officially renamed Crypto.com Arena in accordance with a 20-year naming agreement between AEG Worldwide, the owner of the center, and Crypto.com, one of the fastest growing cryptocurrency platforms.
Hugo Garcia, a Lakers fanatic and law student in downtown Los Angeles, said he was disappointed that the two sides reached an agreement without consulting public opinion.
“It’s ridiculous! Staples Center is such a cultural epicenter of Los Angeles … It sounds pretty harsh,” said Garcia. “It’s like a Lakers game maker. Imagine we’re changing our name.”
Brent Kidwell, a big Lakers fan, considers the renaming to be just a “typical business” arrangement, adding that people are likely to stick with the Staples Center for a long time anyway.
“He has a very strange new name. It doesn’t run off the tongue, so I’ll probably always call it Staple Center, ”Kidwell said.
Antonia Kitchen, a Michigan tourist, said she prefers the original name to the new one.
“I’ve always known it as the Staples Center and I love the name Staples Center. I am sure that [Crypto.com] “The business is great, but I don’t like it, like the Staples Center,” Kitchen said.
However, this change has also generated a positive response.
Julia Miranda, a lifelong Lakers fan and a native of downtown Los Angeles, said the name change, while heartbreaking, could bring new energy to the center and bring more attention to cryptocurrency.
“We are moving towards a cashless society. We are first “. – said Miranda. “The clippers are finally leaving my stadium. Let’s change our name. “
Like Miranda, Jeremiah Johnson, a Crypto.com user, also said this change could introduce cryptocurrency to a wider public.
“The name change is cool … This is a good introduction to the entire crypto community, [Electronic funds transfer]and a new type of currency, ”Johnson said.
While the statement did not say how much Singapore-based Crypto.com paid for the deal, Bloomberg said it would be worth more than $ 700 million in 20 years. In addition, LA Kings and Lakers will also become official partners of Crypto.com.
The Staples Center was originally named in 1997 after the American stationery company Staples Inc., as a result of a ten-year $ 100 million naming contract. Later in 2009, the company acquired a perpetual naming right. However, AEG Worldwide acquired the naming rights in 2019.
The partnership between AEG Worldwide and Crypto.com has helped the cryptocurrency platform gain more public attention and influence. The new signs will be unveiled on Christmas Day, December 25, when the Lakers host the Brooklyn Nets, according to a statement released by the Staples Center.
The Staples Center – the official home of the Los Angeles Lakers and Clippers of the National Basketball Association, the Los Angeles Kings of the National Hockey League and the Los Angeles Sparks of the National Basketball Association for women – hosts over 240 events and serves over 4 million guests annually. Since 2000, it has also hosted the annual Grammy Awards.