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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.
A source told the Associated Press that Crypto.com is paying $700m over 20 years to rename the building. It is believed to be the richest naming rights deal in sports history.
Crypto.com has been on a spending spree across the global sports landscape over the past year. The platform has inked high-visibility sponsorship deals with Formula One, the UFC, Italy’s Serie A, Paris St-Germain and the NHL’s Montreal Canadiens while also purchasing the Philadelphia 76ers’ uniform sponsorship patch.
https://amp.theguardian.com/sport/2021/nov/17/la-lakers-home-to-be-renamed-cryptocom-arena-in-reported-700m-deal