The Los Angeles Lakers are among the teams that will soon refer to Staples Center as Crypto.com Arena.
Crypto.com, a crypto exchange company based in Singapore, recently made a deal worth $700 million to have the naming rights to the arena in downtown L.A. that has been called Staples Center since 1999.
The move, which was announced in mid-November, began trending on social media almost immediately, and the general consensus for fans was that the arena would always be called Staples Center.
The chief marketing officer of Crypto.com recently discussed the company’s thoughts on the matter in an interview with Bill Oram of The Athletic:
“He or she will call it whatever they want, and we’ll be OK with that,” said Steven Kalifowitz, chief marketing officer for Crypto.com. “It’s part of a broader strategy of getting people to know who we are.”
“I’m happy for them to say, ‘The company that took over Staples Center,’” Kalifowitz said. “Over time, it’s really about growth of the business.”
Kalifowitz said the change should come gradually instead of referring it to Crypto.com Arena right away:
“People resist change. I realize that,” Kalifowitz said, adding that he’s still slightly taken aback to see “Citi Field” instead of “Shea Stadium” exit signs when he’s home in New York. “People will change when they’re ready.”
Kalifowitz then said Staples, the company behind the name change, is just the name people are hooked to, not the actual company itself.
“The Staples Center is not that old; the naming rights partner, I don’t know if they’re still in business,” Kalifowitz said. “There is an attachment to the name but not company.”
The name change will go into effect on Christmas, so it’s not long until Staples starts to slip away from people’s mouths. The signage has also started the process of being removed, so Crypto.com will soon have its name around the building.