The Staples Center arena, home of the Los Angeles Lakers and Kings, will undergo a name change, starting Dec. 25.

According to a press release sent out by Staples Center, will take over the name change and reveal a new logo the same day the Lakers have their traditional Christmas Day game against the New Jersey Nets.

The Arena signage on and around the arena will not take place until June 2022 as it starts its 20-year naming rights.

“Known as the Creative Capital of the World, the city of Los Angeles and the people who call it home have always been pioneers, pushing the boundaries and innovating as the undeniable global leaders of culture and entertainment,” Co-Founder CEO Kris Marszalek said in a press release. “We’re very excited about partnering with AEG and investing long term in this city, starting with Arena in the heart of downtown, and using our platform in new and creative ways so that cryptocurrency can power the future of world class sports, entertainment and technology for fans in LA and around the world.”

The agreement  between AEG and will also extend to the surrounding areas of L.A. Live, The Novo and the Microsoft theater.

This will be the Los Angeles arena’s first name change as it has always been known as Staples Center since opening in 1999.

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