The Staples Center is one of the most well-known sports and entertainment venues in the U.S.
The arena is home to the NBA’s Lakers and Clippers, the NHL’s Kings, and the WNBA’s Sparks. Nineteen Grammy Award ceremonies have been held at the venue and it regularly hosts concerts from chart-topping music artists. Several high-profile events, including memorials for Michael Jackson and Kobe Bryant, have been held at the arena.
It has been known as the Staples Center, after the office supplies company, since it first opened in 1999. The inaugural event was a Bruce Springsteen & The E Street Band concert.
Well, it appears that those days are over.
Reflecting the changes in our economy, the arena will be renamed Crypto.com Arena, with Crypto.com paying $700 million over 20 years for the naming rights.
Crypto.com is a cryptocurrency platform and exchange headquartered in Singapore. Founded in 2016, 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.
Talk about trying to raise brand awareness.
I can see the nickname of the place becoming “the crypt”, with the slogan being “a place where opponents come to get buried”. The marketing people are probably excited about the possibilities.
Sources:
Image from ttec
The Crypt will be a great name. I hope the owners get the $700 million in dollars not cryptocurrency. They could christen the arena’s new name with a performance by the Crypt Kicker Five.
LikeLiked by 1 person
I think I’d want the cash too. And I never heard of that band, but I just went out and listened to one of their sons – not too bad…
LikeLiked by 1 person
I know them from the song Monster Mash.
LikeLiked by 1 person
ahhhh. grat song, I just never knew who sang it. The song that came up for me while searching for them was 4th hole…
LikeLike
Even news anchors were making fun of the new name. At least it has publicity so I know where the “new” venue is. I often see concert announcements and have to google the venue because I don’t know the current name.
In a related thought, I started watching Tron for the first time and I think the video arcade is currently The Federal Bar NoHo.
LikeLike
the arena is well known already, so that should help with the transition.
I’ve never seen a Tron movie…
LikeLike
I haven’t made it past the first 3rd of Tron. It requires a weird mix of computer understanding and willingness to overlook 1980s details.
LikeLiked by 1 person
sounds like a lot of work…
LikeLike
The Crypt used to be an awesome bondage gear shop.
LikeLike
There’s a gang in LA called the Crips, and I’ll bet they’re thrilled with this name change. But I suspect that one day the bottom will fall out of all the cryptocurrencies, and this sports arena will have to crawl back to Staples, begging to be taken back.
LikeLiked by 2 people
if Staples is still around by the time that happens…
LikeLiked by 1 person
Maybe they had better reload their stapler.
LikeLiked by 1 person
or start investing in cryptocurrency. if you can’t beat ’em, join ’em
LikeLiked by 1 person
Well, I don’t know. I sure wish I had bought some bitcoin about 20 years ago. But I’m wondering if this crypto craze is sort of like the tulip craze of the 1600s. If I owned any bitcoin, I’d be selling right now.
LikeLiked by 1 person
I own less than one bitcoin, but it has been good year for it…
LikeLiked by 1 person
Heck, if you even own a tenth of a bitcoin, that’s a fair chunk of change.
LikeLiked by 1 person
but like you, I wish I had bought more…
LikeLiked by 1 person
Yes, but when it comes to investing, hindsight is definitely better than foresight.
LikeLiked by 1 person
ain’t that the truth…
LikeLiked by 1 person
You should offer your services to the marketing team. At the very least, maybe you can score some free tickets!
LikeLiked by 1 person
I like the way you think!
LikeLike
They should hire you for the marketing team. “The Crypt” is the ideal nickname for the stadium. I find it a little sad that corporations are taking over these stadiums and their names. For example, the San Francisco Giants used to play at Candlestick Park for over four decades. After a new stadium was built in a different location, the stadium has had four names since 2000. (Pacific Bell Park, SBC Park, AT&T Park, and Oracle Park (after a software company).
A similar thing has happened to many college bowl games names, which now often include corporate sponsors.
LikeLiked by 1 person
sadly, it’s alll about the money.
LikeLiked by 1 person
I love it!
I wish I had your way with words.
LikeLiked by 1 person
thanks…
LikeLike
“The Crypt” is a great nickname. It would appear that just about anything is available now for sponsored naming rights. In fact, for the right amount, I am willing to name my motorcycle after my sponsor. Just throwing it out there….
LikeLiked by 1 person
I’ll start working on a logo for Borden’s Blather and then throw a number out there for sponsorship rights…
LikeLiked by 1 person
like Pete, it always makes me a bit sad when venues are taken over by corporate names/sponsors, though I know it comes down to dollars. one of the concert venues I went to since my teenage years, has been named dte energy theater for many years, but I can’t call it or think of it as anything else but pine knob, what it used to be
LikeLiked by 1 person
pine knob sounds so much better…
LikeLiked by 1 person
yes, and surrounded by trees and ski hill there as well –
LikeLiked by 1 person
a perfect setting…
LikeLiked by 1 person
Haha the crypt… But ugh I don’t like the name crypto.com….it’s the .com that bugs me… Why??!!
LikeLike
I agree; I wish the .com was not part of it…
LikeLiked by 1 person
I agree, the DOT COM sounds so obnoxious.
LikeLiked by 2 people
I miss the days where venues were named after something or someone significant to the area rather than a company willing to shell out the most money. Forbes Field, yes. Three Rivers Stadium. Yes. PNC Park and Heinz Field? No. It’s crass. The venues might be nicer, but the names sicken me. Must everything be commercialized?
I love your marketing concept for the Crypt. I will always think of that when I hear the long version of the new name.
LikeLiked by 1 person
I agree; I like the old names you suggest. Philly used to have Franklin Field and Connie Mack stadium…
LikeLiked by 1 person
The name sounds cryptic.
LikeLiked by 1 person
🙂
LikeLiked by 1 person
A sign of our times, Jim. The Crypt is a good name.
LikeLiked by 1 person
everything is for sale…
LikeLiked by 1 person
aww… I used to live in LA and have great memories of going to Staples Center. Always loved that cute little staple-shaped “L” in the logo
LikeLiked by 1 person
I need to see which F1 team they sponsor!
LikeLiked by 1 person
🙂
LikeLiked by 1 person
Never a fan of such blunt commodification, especially with sport. That’s my 2 bob’s worth. Cheers!
LikeLiked by 1 person
I am not a fan either. it’s not like it helps keep the ticket prices cheap…
LikeLiked by 1 person
Yeah, fair point. Need to keep our soul
LikeLiked by 1 person
👍
LikeLiked by 1 person
Another venue biting the dust to corporate dollars. Always a bit sad.
LikeLiked by 1 person
I guess going from one corporate sponsor to another isn’t so bad, but you do lose a bit of the history…
LikeLiked by 1 person
As a native Angeleno and Lakers fan, I can barely accept the fact they now play at the Stapes Center instead of the
Fabulous Forum! Or that the San Diego Chargers AND the L.A. Rams both play in SoFi Stadium in Inglewood (also home of the Fabulous Forum). For me the Rams were never the St. Louis Rams though the Oakland Raiders were more properly the L.A. Raiders who may eventually become the Las Vegas Raiders to me. That transition is probably much easier for me to make just based on geographical proximity. BTW, what is the name of the stadium the LV Raiders play in? I know it’s also a corporate name and none of that type will ever compare with Fabulous!
LikeLiked by 1 person
I’ll always think of the Raiders as the Oakland Raiders. It looks like the name of the stadium in Las Vegas is Allegiant, I guess representing Allegiant Air…
and the Forum was the best!
LikeLiked by 1 person
Allegiant Air. Kind of a 2nd class operation. Like Jon Gruden.
LikeLike
Jim, thanks for this timely update. As for cryptocurrency, I might need a 100 level finance class to make any monetary sense out of it.
LikeLiked by 1 person
same here, it’s still a bit confusing to me as well…
LikeLiked by 1 person