Staples Center to be renamed Crypto.com Arena in an estimate $700 million deal for 20 years
(Basketball news) The iconic Staples Center in Los Angeles, home to the L.A Lakers, LA Clippers, NHL’s Los Angeles Kings and Women’s NBA’s Los Angeles Sparks will be renamed after being in operation for 22 years to Crypto.com Arena, as announced by arena owners Anschutz Entertainment Group last night. According to multiple reports, it is estimated that the deal would cost $700 million with Crypto.com paying the sum over a 20 year period, however, the financial terms of the deal are not yet made public.
Ever since it opened in 1999, the 20,000 seat venue was named the Staples Center after a 20 year naming rights agreement was reached with American office-supplies retail company Staples Inc. That will end when the Lakers take on the Brooklyn Nets at the NBA’s annual Christmas showcase this December. Headquartered in Singapore, Crypto.com is a cryptocurrency platform which was founded in 2016 and has already invested heavily in the sports landscape globally, signing sponsorship deals with the UFC, Formula 1, Paris Saint-Germain, NHL's Montreal Canadiens and also purchasing the Philadelphia 76ers' uniform sponsorship patch.
The future Crypto.com Arena has been the go-to venue for many major events, not just restricted to sports. The venue has hosted 19 Grammy Awards ceremonies, concerts, important public events such as the memorials of Kobe Bryant and Michael Jackson as well as three NBA All-Star Games and two NHL All-Star Games. In the first three years of operation, the venue saw the Lakers win three successive NBA Championships along with three more in the subsequent years. WNBA team Los Angeles Sparks have also won three WNBA titles at the Staples Center while the Kings have won two Stanley Cup Championships in 2012 and 2014 at the venue.
After being unveiled as the Crypto.com Arena on Christmas Day, owners AEG will spend the next six months swapping the arena’s external signage for the 2022-2023 NBA, WNBA, NHL season. The venue is also said to be used for basketball events at the Olympics 2028 hosted in Los Angeles with Dan Beckerman, CEO of AEG saying “It’s the biggest of stages, we’re in the epicenter of the sports and entertainment world”.
Basketball player Pau Gasol announces retirement after 23 year long playing career
(Basketball news) Spanish basketball player Pau Gasol has retired from the sport after a long and successful career that has spanned 23 years. The 41 year old won two NBA Championships and three Olympic medals in his illustrious career. Speaking from an opera house in Barcelona, Gasol said “I'm going to retire from professional basketball. It's a difficult decision after so many years, but it's a decision that I really thought over." In attendance were his former teammates and family members, including his wife, his brother Marc and his young daughter.
Gasol made his professional debut in 1998 for Barca as a centre after which the 7 foot 1 inch player was signed by the Memphis Grizzlies in 2001. The Spaniard was selected in the All-Star team on six occasions and won the NBA title with the L.A Lakers in 2009 and 2010. He has also played for Chicago Bulls, San Antonio Spurs, Milwaukee Bucks and spent four months at Portland Trail Blazers despite not playing due to injury.
Gasol had a successful playing career for his country, winning the World Championship in 2006 and European titles in 2009, 2011 and 2015. He helped Spain win a silver medal at the Olympic Games in 2008 and 2012 and guided his country to a bronze medal in 2016. Despite being injured for almost two years, Pau Gasol made a full recovery to participate in the 2020 Tokyo Olympics where Spain was eventually knocked out of the quarter-finals to eventual winners USA.
While announcing his retirement, Gasol spoke about his battle to overcome the stress fracture he suffered on his left foot in 2019. "Not many doctors thought I'd be able to recover but I'm a person who likes challenges and I wanted to fight to do the improbable. I got to the point where I was relaxed about my career ending, I was at peace, but, when things went well, I took the decision to sign for Barcelona, which wasn't in my plans. I managed to win the league with the club where it all began and where I made my debut. It's been very special."
The 41 year old also paid tribute to the late Kobe Bryant with whom he won two NBA titles. “I'd have liked him to have been here today but sometimes life is unfair. He taught me to be a better competitor, a real winner, I considered him like an older brother.”