Discussion in 'Lakers Discussion' started by The Rock, Nov 16, 2021.
Not trying to be rude to Chick, I love him man!!
Total man crush!! Dude was the best ever.
Now that we are going to be the Crypt, how long until the nickname "The Undertaker" gets assigned??
700 million is a nice chunk of change for naming rights. Wow
That's going to be Reaves, just give him time.
Does this mean the stadium gets renovated a bit?
Most will still call it Staples but gonna be hard not to call it The Crypt for all the corpes we have
But are they getting paid in Bitcoin is the question.
I know the name is disappointing, but it will be a good thing for the fans & team overall, I can assure you of that.
This wasn't an impulse decision, but rather something that's been in the works for a while now.
Only if they are smart
but corporations that need to show profit are not hodlers, so not sure it would matter much.
The “name” IS disappointing. It’s going to be MOCKED by Lakers haters everywhere. Hope they put a lot of that money at least into spiffing the place up. Hate the name …. that is Staples! Damn it.
We're already being mocked and we'll always be mocked. It's the price you pay when you are the best franchise in the league whether we are winning or losing.
It behooves us to remain winners. As soon as we start losing, that name is going to be our burial chambers!!
Is it worth 7/10ths of a billion dollars??? Hell, that's not even what Lebron will pocket will pocket after his 20 year career!!! Just to put it in perspective.
What is the financial arrangement between AEG and the Lakers. Sure AEG owns the building but w/o the Lakers and Clips Staples/Crypto would be a huge money sink. The sports team must know this and get a cut of what? Food/beverage makes sense, parking?, naming rights?
To also put this in perspective, the construction cost in 1999 to build the Staple Center was $375 million.
Staples then paid $120 million for the 20 year naming rights. Now crypto.com will be paying a whopping $700 million for the next 20 years.
Simply incredible how just the naming rights basically paid for the building two times over and then enough left over to had paid for Luol Deng’s entire Laker contract….
Lakers are signed through the 2041 season at Staples, err, Crypto.com Arena, so AEG is safe, plus they still have a crap ton of events to fill up the space even if the Lakers weren’t there, like all the mega concerts, Grammys, other sporting events (boxing, wrestling, skating), speaking engagements, political events, etc.
Sports teams generally get a cut of concessions, but I think Lakers rely more on ticket sales, their massive TV deal, other media licensing, sponsorships, and merchandise.
Side note, Clippers are moving to Inglewood in a few years to their brand new home the Intuit Dome. Somehow I didn’t even know about this until now.
Surprised the Lakers don't pull a harder bargain TBH then: staples/crypto is not going to pull in nearly the amount of eyeballs to make the naming right worthwhile without the Lakers/Clippers
Unlikely crypto replaces Fiat. Its more of a store of value.
You're talking about Bitcoin or others coins like it only. Other blockchains are built with functionality, and tokens make them run. It's a quickly evolving technology, and it will be running the Metaverse. Worth getting up to speed on. I'm not exactly embracing it, but it's coming whether we like it or not.
I've been in the space since 2016. I agree that its definitely the future, I just don't think it will ever replace fiat. I think its more likely the IMF creates a digital version of the dollar.
In many ways I hope you are correct.