This week news broke that the legendary Staples Center is changing names to Crypto.com Arena. AEG and Crypto.com decided to move forward with rebranding because of an eagerness to collaborate and create something truly “unique” (Digital Music News).
The deal is supposedly worth $700 million and will bring many upgrades to the already world-renowned venue. Plans include a 3,300 sq. ft Crypto.com activation space and premium signage inside and outside the stadium. In addition, other activation areas will be available in the main foyer and throughout the L.A. LIVE campus (Digital Music News).
Higher-ups from both companies say the decision is in the best interest of their supporters and the future/innovation of their respective industries. Here is what AEG President and CEO Dan Beckerman said about it in a Digital Music News article:
“This partnership is about the future, AEG and Crypto.com not only share a vision about innovation and the future of sports and entertainment, but we also have a shared commitment to our communities where we work and live. We look forward to partnering with Crypto.com to create meaningful initiatives to bring that vision to life in the years to come.”
But is this choice in the best interest of their communities? STAPLES Center has been home to some of the greatest moments in recent sports and entertainment history. In its short 20-year existence, the stadium’s become a global landmark; to say that this is about the future of sports or serving their communities might be a longshot.
Even Paul George of the Los Angeles Clippers had some words to share about the move.
“It’ll be weird,” George continues in a Clutch Points article. “I grew up, this being Staples, and Staples being the place to play and the place to be. It’ll definitely be weird. It’s just, it’s the same location, but it’s kind of like just stripping the history here by calling it something else. You know, from there going forward, it’s I guess the new history to be written. But it’ll be weird. For sure.”
STAPLES Center is changing names and branding officially on Christmas Day when the Los Angeles Lakers play the Brooklyn Nets.
Photos via Twitter @STAPLESCenter