LOS ANGELES -- Staples Center is getting a new name. Starting Christmas Day, it will be Crypto.com Arena.
The downtown Los Angeles home of the NBA's Lakers and Clippers, the NHL's Kings, and the WNBA's Sparks will change its name after 22 years of operation, arena owner AEG announced Tuesday night.
Crypto.com is paying $700 million, according to multiple reports, over 20 years to rename the building. The parties aren't publicly announcing the financial terms of what's believed to be the richest naming rights deal in sports history.
The 20,000-seat arena has been Staples Center since it opened in October 1999, with the naming rights owned by the American office-supplies retail company under a 20-year agreement.