Staples Center in L.A. to Be Renamed Arena

The Staples Center, home to LeBron James and the Los Angeles Lakers, will be renamed the Arena after a Singapore-based cryptocurrency brokerage paid to sponsor the sports and concert venue.

The arena’s owner, AEG Worldwide, said it struck a 20-year naming rights agreement with The digital-currencies company agreed to pay $700 million over the life of agreement, according to people familiar with the deal. The name change would be effective from Dec. 25.