How much did it cost to change the name of the Staples Center?

The Staples Center is a world-renowned sports and entertainment arena in downtown Los Angeles that has been hosting major events since 1999. In 2018, the arena changed its name to the Microsoft Theater. While it was a big surprise to many, the name change was financially beneficial to the Staples Center. How much did it cost to change the name of the Staples Center?

The Staples Center’s name change was part of a multi-million dollar sponsorship deal between Microsoft and AEG, the owner of the Staples Center. According to the terms of the deal, Microsoft paid AEG $400 million dollars over 10 years for the naming rights to the arena. The deal included additional money for signage, branding, digital integration, and other marketing services. Microsoft now receives exclusive rights to all the advertising displayed in the arena, including video boards, concourse banners, and LED screens.

In addition to the sponsorship money, the Staples Center had to pay for the changes associated with its new name. This included replacing all signage, logos, and branding with the Microsoft name. The cost of the signage changes was estimated to be around $2 million. The Staples Center also had to pay for new uniforms, promotional materials, and marketing campaigns related to the name change. All told, the cost of changing the name of the Staples Center was estimated to be around $3 million.

The Staples Center name change has proven to be a lucrative deal for the arena, as Microsoft is one of the world’s most recognizable brands. The $400 million dollar deal helps the Staples Center remain a premier venue for sports, music, and entertainment events. The name change also helps Microsoft extend its brand recognition and reach new audiences. It’s a win-win situation for both sides, and it shows that the cost of changing the name of the Staples Center was well worth it.

The Rise in Cost to Rename the Staples Center

It’s no secret that the cost of renaming the Staples Center has increased drastically over the years. The venue has been renamed three times since it opened in 1999, and each time, the cost of the name change has gone up. So, how much did it cost to change the name of the Staples Center?

In 1999, the Staples Center was opened under its original name, the Great Western Forum. The name change to Staples Center cost $20 million, a sum which was paid entirely by Staples Corporation. It was the first name change to the arena in its history, and the cost was considered to be relatively low at the time.

In 2014, the Staples Center underwent its second name change when it was renamed the Microsoft Theater. This name change was a result of a deal between Microsoft and the venue that was worth $400 million over 10 years. This deal included the renaming of the Staples Center as well as the exclusive use of the Microsoft brand. The cost of the name change was not revealed, but it was estimated to be close to $100 million.

In 2020, the Staples Center underwent its third name change when it was renamed the L.A. Live. This name change was the result of a deal between L.A. Live and the venue that was worth $800 million over 10 years. The cost of the name change was not revealed, but it was estimated to be close to $200 million.

So, in total, it cost more than $320 million to change the name of the Staples Center over the course of the last two decades. The cost of the name change has increased significantly over the years, and it doesn’t seem like the cost is going to go down anytime soon.

The rising cost to rename the Staples Center is reflective of the trend of big companies paying for highly-visible naming rights. As the cost of advertising and marketing continues to rise, companies are looking for more creative ways to get their brands in front of potential customers. For many companies, the naming rights to major venues are seen as a way to increase brand recognition and exposure.

How Much Did It Cost to Change the Staples Center Name?

The Staples Center is one of the most recognizable arenas in the world and is home to the Los Angeles Lakers, Los Angeles Clippers, and many other teams. Recently, the Staples Center underwent a major rebranding process, and its name was changed to the Microsoft Theater. The name change was part of Microsoft’s ongoing effort to expand its presence in Los Angeles.

The cost of rebranding the Staples Center was estimated to be around $100 million, including the cost of the new signage, marketing campaigns and new arena equipment. The majority of the cost was associated with the new signage, as the Staples Center had to be rebranded from the ground up. The new signage was designed to reflect the new name and included new LED screens, banners, and other signage that were all designed to reflect the new Microsoft branding.

The cost of changing the Staples Center to the Microsoft Theater also included the cost of rebranding all of the arena’s merchandise and memorabilia. This included new jerseys, t-shirts, hats, and other merchandise that had to be rebranded to reflect the new name. In addition, all of the arena’s digital signage had to be rebranded, which added to the cost of the project.

Finally, the cost of changing the Staples Center name also included the cost of advertising and marketing campaigns. Microsoft invested heavily in marketing and advertising campaigns to ensure that the new name was promoted widely. This included TV ads, radio spots, digital campaigns, and social media campaigns.

Overall, the cost of changing the Staples Center name was estimated to be around $100 million. While this may seem like a lot of money, it was a necessary investment for Microsoft to effectively rebrand the arena and ensure that the new name was well-known and widely promoted.

In conclusion, the cost of rebranding the Staples Center to the Microsoft Theater was estimated to be around $100 million. This investment allowed Microsoft to effectively rebrand the arena and ensure that the new name was well-known and widely promoted.