Twenty-two years of Los Angeles Lakers history played inside the Staples Center was cemented on Dec. 23, 2021, as L.A competed in their final game in the fan-favorite arena by unfortunately losing to the San Antonio Spurs. The Lakers faithful received a gift on Dec. 25, 2021, as the team played their first game inside the newly-named arena Crypto.Com Arena.
The Singapore-based crypto-currency company made history by embarking on what is believed to be the largest naming rights agreement in sports history.
By Crypto.com reportedly to have agreed to pay $700 million for a 20-year period, the Lakers surpassed their rival city NBA team in the Los Angeles Clippers, and their NFL brothers in the Los Angeles Rams and Chargers, as the current richest U.S venue naming rights deal.
The name change was announced in Nov. 2021. A month later, the Purple and Gold hosted the Brooklyn Nets on Christmas night for their first game in the newly-branded arena. The Lakers fell short of a victory and then began what was the downward of the disappointing 2021-22 season.
While the Lakers didn’t have the success they’ve envisioned after the arena name change, it’s still one of the premiere venues in sports. In addition to changing the name, AEG has put hundreds of millions of dollars into renovating the arena to make it an even better viewing experience for fans in the future.
The Lakers won six championships while calling Staples Center home, but they are still looking for their first since the name changed to Crypto.com Arena.
Clippers have moved out of Crypto.com Arena
The Lakers have, of course, shared Crypto.com Arena with the L.A. Clippers since it was built in 1999, although the 2023-24 season was the last time that was the case.
Clippers owner Steve Ballmer moved his team out of Crypto.com Arena, building the Intuit Dome next to SoFi Stadium in Inglewood for his team to play in.
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