Along with sports gambling, crypto is something that is rapidly growing interest among the general public. What was once something only computer people knew about is now increasingly becoming a part of people’s portfolios. As a result, crypto companies are becoming a part of the sports scene and one company is reportedly going to have the naming rights of one of the most well-known arenas in the country.

According to Front Office Sports, Staples Center is going to be renamed after Axios had more details about the deal including that it’ll be named “ Arena” and an announcement is set to be made Wednesday.

This will apparently be a massive deal for the naming rights to the Los Angeles-based arena. Axios reported that it would be a 20-year agreement with the total value of the deal exceeding $700 million. The actual transfer of the naming rights is set to be made on Christmas Day.

This isn’t a complete surprise that a crypto company is buying the naming rights to an arena. in particular sponsors teams in various sports like the Philadelphia 76ers, Montreal Canadiens, Paris Saint-Germain, and the Aston Martin F1 team as well as league-wide partnerships with Serie A, Formula 1, and the UFC. Not only is this not a surprise, but it’s also probably not ending anytime soon.

[Front Office Sports/Axios]

About Phillip Bupp

News editor for The Comeback and Awful Announcing, highlight consultant for Major League Soccer as well as a freelance writer for hire. Opinions are my own but feel free to agree with them.

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