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Staples Center Rumors

Arash Markazi: The end of an era in Los Angeles. The Staples Center sign is coming down today. The Crypto.com Arena sign will go up by June.

LeBron James did not wear a face mask Saturday night while sitting courtside at Staples Center and watching his son Bronny play in a high school basketball tournament. The Los Angeles County COVID-19 rules include a mandate for residents to wear masks in indoor public spaces, regardless of whether they’ve been vaccinated.
How are the valuations derived? Much like house valuations on online real estate sites, they are based on several factors, including location, who owns the arena the team plays in, and the team’s local television deals. James L. Dolan, the owner of the Knicks, also owns Madison Square Garden, whereas the Lakers lease the space at Staples Center, which will become known as Crypto.com Arena on Christmas Day. “If you have two teams, let’s say one owns the building and the other leases it, what I’m valuing is the economics,” said Mike Ozanian, a managing editor at Forbes who compiles its valuations. “In other words, what are the revenues that the team generates at the building versus its expenses?”
Crypto.com officials told the team that the Sparks were never mentioned during negotiations with AEG. The Lakers and Kings were highlighted, the Clippers’ imminent departure was referenced and Staples Center, L.A. Live, Microsoft Theater and The Novo were obviously discussed, but the Sparks were never presented as an option or possible part of the deal to Crypto.com, according to sources.
Trevor Noah wants hardcore fans of the Staples Center name to get a grip as owner AEG Live prepares to rebrand the venue Crypto.com Arena, starting Christmas Day. On Wednesday night’s “Daily Show,” the late-night host ran a clip of Los Angeles Clippers forward Paul George — a Palmdale native who’s been a Clipper since 2019 — lamenting the change from the only name the place has had since it opened in October 1999. “It’ll be weird … You know, I grew up [with] this being Staples and Staples being, you know, the place to play and the place to be,” George told reporters. “It’s kind of, like, just stripping the history here.”