NBA: Crypto.com, title sponsor of Los Angeles' "Staples Center" for $700m over 20 years (2022-2041)

Crypto.com, a Singapore-based crypto-asset company, has partnered with Anschutz Entertainment Group (AEG), the company that owns and operates the Staples Center in Los Angeles (California, USA), to become the title sponsor of the sports and entertainment venue, which will be named the "Crypto.com Arena" for the next 20 years (until 2041) from 25/12/2021, announced the two parties on 11/17/2021. The partnership will begin with the NBA game between the Los Angeles Lakers and the Brooklyn Nets on 25/12/2021.

The deal is worth an estimated $700m over 20 years (€616.5m), or $35m a year (€30.8m), according to local newspaper the Los Angeles Times. The naming change covers the Los Angeles Lakers, Los Angeles Clippers (NBA, until their move to the Intuit Dome from 2024-25), Los Angeles Kings (NHL) and Los Angeles Sparks (WNBA) games. The agreement also includes the L.A. Live entertainment complex and its venues, the Microsoft Live entertainment complex and its venues, the Microsoft Theater and The Novo. According to the LA Times, "integrating cryptocurrency payments into the arena and…