Business

Angelenos push back on new Crypto.com arena: ‘It will always be the Staples Center’

"We are always gonna call it Staples Center no matter what lil name you slap on the building," said writer and professor Roxane Gay, who owns a home in Los Angeles.

Residents of Los Angeles, sports fans, and social media personalities are making light of Crypto.com’s agreement to rename the city’s Staples Center for its own marketing purposes. 

The Staples Center, a multi-purpose arena that has been home to the Los Angeles Clippers, Lakers and other major sports franchises for years, is scheduled to be renamed as the Crypto.com Arena starting on Dec. 25. This follows a $700 million agreement with the platform to hold the naming rights for 20 years. However, since its opening in 1999, the venue has always been called the Staples Center, and fans don’t seem to want Crypto.com or observers forget this fact when the handover happens.

“It will always be known as the Staples Center, no matter how many hundreds of millions of dollars Crypto.com paid for the naming rights,” said USA Today reporter Bryan Kalbrosky, who also called it “bonkers” to refer to the arena by its new name:

Read more:  Rapper The Game facing $12M judgment along with execs in ICO case

Many cities around the world have colloquial names for streets, parks, and buildings that have long since been changed to honor historical figures or reflect sponsors. In Chicago, many residents still refer to the Willis Tower skyscraper as the Sears Tower, though it was renamed in 2009 and the department store has closed many of its once-ubiquitous branches. Lady Bird Lake in Austin is still known by many as Town Lake, though it was changed in 2007 to honor the former First Lady.

Read more:  Respect the Pomp: RSK’s token spikes 30% after founder appears on podcast

Related: FTX set to secure naming rights to Miami NBA stadium until 2040

As it grows, Crypto.com has been inking deals for reasons of brand recognition and more. In July, the company also signed a $175-million sponsorship agreement with Ultimate Fighting Championship. Actor Matt Damon recently appeared in ads released around the world promoting the platform as well.

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button