Staples Center Is Changing Name To Crypto.com Arena

AEG — owner and operator of the venue — reportedly reached a 20-year $700 million deal with the Singapore cryptocurrency platform and exchange.

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.

A person with knowledge of the deal tells The Associated Press that Crypto.com is paying $700 million over 20 years to rename the building.