The Iconic Staples Center in Los Angeles Renaming To Arena

(Image Source: Los Angeles Times)

The Home of the NBA's Los Angeles Lakers and Clippers and one of Los Angeles' (and the world's) most iconic sports and entertainment venues is rebranding itself to Arena after more than two decades as the Staples Center.

According to the announcement, the arena's new name will be unveiled on Christmas day, when the Los Angeles Lakers host the Brooklyn Nets, with all additional Staples Center signage and branding to be replaced with the new sponsors by June 2022.,

It is reported that office supply retailer originally bought the naming rights to the arena for $116m for 20 years back in 1999. The new deal with is reportedly at $700m for 20 years. This new agreement is believed to be the largest U.S. venue naming rights deal.

Paul George, Los Angeles Clipper star voiced his opinion on the new name for the arena in a press conference: