After nearly 22 years in the historic Downtown Los Angeles arena formerly known as STAPLES Center, AEG and Crypto.com have agreed to a 20 year, $700 million naming rights partnership that would change the name from Staples Center to Crypto.com Arena beginning Dec. 25 when the Lakers take on the Nets on Christmas Day.

Although this was sudden news to appear this week, it shouldn’t come as a surprise considering STAPLES has been a partner since the arena first opened on October 17, 1999. Meaning new and competitive companies were going to engage with AEG, the owner of the arena to be partners sooner or later. As business-wise, the opportunity to be associated with a highly regarded arena and a franchise such as the Lakers is a worthwhile opportunity for any company.

However, with business deals comes some criticism. As the majority of criticism has come from Lakers Nation, due to their displeasure with the name change and the nostalgic memories that will be forever associated with STAPLES Center. As the STAPLES Center was “The House That Kobe Built”.

In the end, Crypto.com will be the official partner of the arena and name holder moving forward, however lucky for Lakers fans who will still call Crypto.com Arena “STAPLES Center”, Crypto.com will not be showcased externally until June 2022. So from now to June 2022, that will be the last time STAPLES with headline Downtown, Los Angeles, and LA Live.

What is your favorite memory at STAPLES Center?

All information and sources are from shown journalists, writers, and companies below.

Iliana Limón Romero Twitter @LAT_Iliana (Source for length of deal and amount)

Thumbnail Image Crypto.com Twitter @cryptocom

Original source/First reported by Shams Charania @ShamsCharania

Eduardo M. Gonzalez (Source for signage disappearance) Twitter @edmgonzalez

Announcements and other information from AEG and Crypto.com