Cryptocurrency exchange Crypto.com has just entered into yet another big sponsorship deal, with the buy of the naming rights for the Los Angeles Lakers’ Staple Centers basketball court.
Crypto.com buys the Staples Center naming rights for $ 700 million
According to a press release published on November 17, the exchange Crypto.com announced that it has partnered with two significant sports activities clubs in Los Angeles (USA), the Los Angeles Lakers basketball group and the Los Angeles Kings Hockey group.
In addition to getting the official crypto spouse of these two organizations, Crypto.com has also shocked the crypto planet and American sports activities when it repurchases the naming rights of their Staples Center game and modifications its identify to Crypto. .com Arena. The naming contracts will have a greatest duration of twenty many years. With an estimated worth of up to $ 700 million, a lot of observers look at this the most pricey naming rights deal in U.S. sporting historical past.
We are particularly proud to announce that the Staples Center, the most iconic arena in Los Angeles, will have a new identify:
https://t.co/vCNztATkNg Arena
As aspect of this twenty-12 months partnership, we are also thrilled to welcome the @Lakers & @LAKings like our new partners! pic.twitter.com/KCfYKySDRt
– Crypto.com (@cryptocom) November 17, 2021
The Staples Center is the “icon” of the city of Los Angeles. Opened in 1999, the twenty,000-seat arena is not only dwelling to the Los Angeles Lakers and Los Angeles Clippers men’s basketball teams, the Los Angeles Sparks women’s basketball group and the Los Angeles Kings hockey group, but also the dwelling of the Los Angeles Kings hockey group wherever a lot of significant occasions this kind of as the Grammy Music Awards, concerts of major stars, a lot of boxing matches of the century and other prestigious awards ceremonies of the Hollywood capital of cinema. This is also wherever basketball video games as aspect of the 2028 Los Angeles Olympics are supposed to consider area.
The Staples Center also seems a good deal in well-liked culture in Los Angeles in certain and in the United States in standard. The center can host up to 240 occasions per 12 months, attracting four million site visitors.
Crypto.com will officially hold a ceremony to rename the Staples Arena to Crypto.com Arena at Christmas this 12 months.
Crypto.com CEO Kris Marszalek commented:
“If I had to decide on a area to acquire naming rights, it would certainly be Staples Center, the heart of the cultural capital of the planet. This is aspect of our approach to develop into a foremost brand, on par with Apple or Nike. “
The “sports war” of cryptocurrency exchanges
In 2021, Crypto.com also has a lot of sports activities sponsorship offers with a lot of popular manufacturers, like Aston Martin F1, Fnatic esports group (United kingdom), Montreal Canadiens hockey group (Canada), Serie A Soccer Tournament, Copa Italia Super Cup (Italy ), Hockey World Championship, Formula One Racing Tournament, UFC Fighting Tournament, Paris Saint-Germain Club (France) and Philadelphia 76ers basketball group (USA).
Not stopping there, the October exchange also invested up to $ a hundred million on a multinational promoting campaign featuring actor Matt Damon.
Crypto.com’s other rivals in current many years are also “spending a lot” to encourage the brand across the sports activities discipline.
Crypto.com’s “rival” in the United States, the FTX exchange, invested up to $ 135 million in April to acquire the naming rights to the Miami Heat basketball court and altered it to FTX Arena, obtaining promoting at the last dance. with American Baseball (MLB), TSM eSports group, North American League of Legends (LCS), Cal Athletics College and American football legend Tom Brady.
The biggest cryptocurrency exchange in the planet nowadays concerns tokens for followers and sponsors jerseys for two European soccer teams, Lazio and FC Porto. BitMEX exchange gets to be AC Milan’s official sponsor. The Coinbase exchange partners with foremost NBA esports and basketball tournament organizations, …
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