Goodbye Staples Center, hello Crypto.com Arena

Crypto.com Arena signs go up downtown

The name change doesn't officially go into effect until Christmas Day, but signs advertising the Crypto.com arena have gone up outside the downtown venue. Crypto.com paid $700 million dollars for the naming rights over 20 years.

LOS ANGELES - It's the Staples Center no more. Signs for the new naming rights sponsor of the iconic basketball and hockey arena downtown are starting to go up before the change becomes official this weekend.

As of Christmas Day, the change from Staples Center to the Crypto.com Arena will be official, but the signs on the door already reflect the venue's new name.

Get your top stories delivered daily! Sign up for FOX 11’s Fast 5 newsletter. And, get breaking news alerts in the FOX 11 News app. Download for iOS or Android.

AEG made the announcement that they'd be renaming the arena in November, after more than 22 years under the original Staples Center moniker. The agreement also makes Crypto.com an official cryptocurrency platform partner of the Los Angeles Lakers and Los Angeles Kings. Crypto.com paid more than $700 million for the naming rights, making it one of the biggest naming rights deals in sports history. The agreement spans the next two decades.

Staples Center signs started coming down earlier this month. According to the November announcement, signage throughout the stadium will be completely rebranded by June 2022.

Staples Center had been the home of the Lakers, Clippers, Sparks and Kings since 1999. The arena had also hosted countless high-profile musicians. Staples Center was also chosen as the venue for memorial services of Kobe Bryant, Nipsey Hussle and Michael Jackson.

The signs aren't the only thing changing in the arena. The Clippers will be moving soon, to the Intuit Dome in Inglewood, which is currently under construction and scheduled to be ready for the 2024-2025 NBA season.

The Lakers will inaugurate the Crypto.com Arena on Dec. 25 against the Brooklyn Nets.

Tune in to FOX 11 Los Angeles for the latest Southern California news.