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Crypto.com pays 700 million for the rights to the name of the Staples Center in Los Angeles

The structure in question is where the Lakers and Clippers play

Crypto.com, known exchange based in Singapore, has announced that it has achieved a naming rights agreement for the Staples Center in Los Angeles. The facility that is the subject of the transaction is the arena in which two of the most well-known franchises of the National Basketball Association (NBA) play their home games, namely Lakers e Clippers, In addition to Sparks (WNBA, the women's professional league) and the LA Kings, who are also part of the NHL (National Hockey League).
To ensure this right, the platform will pay the large sum of 700 million US dollars over the next two decades at AEG, owner and manager of the facility. The figure in question literally makes i pale 135 million previously paid by FTX to secure the same right to the arena in which the Miami Heat play.

crypto - Crypto.com pays 700 million for the rights to the name of the Staples Center in Los Angeles

The terms of the agreement

The collaboration also includes a series of initiatives that will see the involvement of the Lakers and Kings, in order to take advantage of its extraordinary popularity, not only in the country. Specifically aimed at forging ever closer relationships with the respective fan base and proposing increasingly engaging experiences, aimed in particular at facilitating their understanding of digital assets.
The extent of the agreement, however, has prompted some analysts to put forward the hypothesis that this is the first phase of a process tending to decisively strengthen the presence of Crypto.com in the city of angels. Along the lines of what is happening with FTX in Miami, with the platform of Sam Bankman Fried increasingly at the center of Florida's economic life.

Kris Marszalek's comment

To comment on the agreement achieved by the exchange was Kris Marszalek, its founder. Who stated not only the satisfaction with the start of the collaboration, but also the intention to invest in the long term in the largest center in California.
Words that seem in fact the confirmation of what many thought, or rather of one move in forces of Crypto.com to Los Angeles, therefore destined to become a very important center of the cryptographic scene, not only national.

Crypto.com's offensive in sport continues

The agreement with AEG represents only the last step in order of time, in a strategy that focuses on the union of Crypto.com with sport. The exchange has in fact launched agreements relating to the launch of NFT with various federations, including theUFC (Ultimate Fighting Championship, operating in the MMA sector), for the sponsorship of Formula 1 racing, as well as with individual clubs, such as Paris Saint Germain (Ligue 1 of football) ei Montreal Canadiens (NHL).

Cryptocurrencies and sports: not just Crypto.com

Crypto.com is just one of the many players in the crypto world who have decided to take advantage of the extraordinary popularity of mass sports, such as football, basketball, motor racing or ice hockey.
Just think in this sense of therecent agreement between Coinbase and NBA, as a result of which the logo of the cryptographic exchange platform will appear in all events of the professional basketball league.
A trend which has found the excellent acceptance of a sports world in search of new sources of income, with which to plug the gaps in the budgets caused by the new health needs related to the Covid pandemic. The forced closure of stadiums and arenas, in fact, has caused a lack of indispensable resources for many clubs, in particular those of football. The enthusiasm with which the proposals from the crypto sector were received is therefore the logical corollary to a still very delicate situation.

 

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Dario Marchetti

I have a degree in Literature and Philosophy from the Sapienza University of Rome, with a thesis on the eastern border of Italy at the end of the First World War. I have collaborated with several sites on many issues and led the work group that published the official CD-Rom of the SS Lazio "History of a love" and "Photographic History of Magical Rome".

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