The rivalry between the Celtics and Lakers is legendary — but this year, the battle extends beyond the court. While the NBA season is quite far away from deciding the champion, the two franchises are vying for the top spot on another front. Crypto.com Arena, home to the Lakers, and TD Garden, home to the Celtics are both finalists in the Sports Business Journal’s 2025 Sports Business Awards.
With staggering naming rights deals, record-breaking concessions, and innovative partnerships, both venues are redefining what it means to succeed in the sports business arena. The result will be declared in May, but before that let’s take a look at where both these arenas stand.
Crypto.com Arena scored big with the $700M naming rights deal
In 2021, the renaming of the Staples Center sent shockwaves through the nation. Rarely did a naming rights deal spark such fiery conversation from pubs to board rooms. Reportedly, Crypto.Com shelled out a jaw-dropping $700M to have their name associated with the hallowed venue. But citing an insider source, a Front Office Sports report claimed that the $700M figure is actually under-reported.
It shouldn’t be surprising because Staples paid a whopping $116M for a 20-year naming rights deal. Since its establishment, the hallowed venue has hosted over 5000 events and 92 million guests. The estimated operating costs run somewhere between $40M to $60M annually.
Soon after acquiring the naming rights, the Singapore-based Crypto platform undertook a nine-figure renovation project to overhaul the hospitality offerings. Currently, the capacity looks somewhat like this:
18,910 for Lakers
18,145 for Kings
12,862 for Sparks
19,395 for Concerts
19,395 for Boxing
In addition, there are 162 Private Suites, 16 Event Suites, 20 Premier Lounges at Yaamava’ Club by San Manuel, and 2,515 Premier Seats. In 2023, during the first lap of its new business partnership, Crypto.com Arena generated $5M from premium seating alone across five playoff games. Around that time, AEG, the owner of Crypto.com arena, inked three sponsorship deals worth $160M within a span of 48 hours.
Even though the Clippers have found a new home in Intuit Dome, it doesn’t appear that took a massive toll on Crypto.com Arena’s revenue stream. Contrarily, the venue is also host to multiple California-based music festivals like Stagecoach and Coachella, and individual concerts from A-list celebrities. In fact, the 2024 Grammy broke all previous concession sales records for the brand. On average, attendees spent $97.17 during last year’s Grammy exceeding the $95.94/person record set a year before.
Restaurant partner Levy recorded a net sale of $1M+.
The 2024 Grammy also generated $5.14 per person in merchandise sales.
Reports estimate the annual revenue of the Crypto.com arena to be north of $50M.
The arena’s ability to thrive despite losing the Clippers reflects a savvy business model. By investing in multi-use capabilities, hosting everything from the Grammys to Coachella, Crypto.com Arena ensures revenue streams extend far beyond basketball — a model that more venues are now replicating.
Where does TD Garden, another iconic venue, stand in regard to this? The home stadium of Boston Bruins, and Boston Celtics hosts around 200 events a year, with around 3.5M footfalls. A decade back, the owner of Delaware North pumped $70M for a renovation project. Where does the stadium stand ten years later?
TD Garden doesn’t lag far behind either
The TD Garden’s 19,600-seat arena is equipped with 90 executive suites and 1,100 club seats. Since 1994, it has been home to multiple high-voltage sports and entertainment events. Indeed, only two years back the venue set a record of hosting 200 events and 50 concerts. Resultantly, they were one of the top ten highest-grossing venues in the world, ranking 6th only behind, Madison Square Garden (New York), O2 Arena (London), Kia Forum (Inglewood), T-Mobile Arena (Las Vegas), and Prudential Center (Newark).
We’re thrilled to share that TD Garden is a finalist for the SBJ Sports Business Awards’ Facility of the Year! Congrats to all the nominees, and a big thank you to @NHLBruins, @celtics, our associates, and our guests for making TD Garden so special.
: https://t.co/H6GvzKTWhS pic.twitter.com/uVY82ivtHq
— TD Garden (@tdgarden) March 17, 2025
A year later, TD Garden ranked seventh on the same list. In 2023, TD Bank extended its naming rights deal with the venue till 2045. The initial deal for 20 years was worth $6M a season from 2025. While the final details of the new naming rights deal weren’t made publicly available it was known that TD Bank agreed to pay $15M in community development. Like Crypto.com, Delaware North also undertook a $100M renovation project to completely revamp the hospitality offerings.
TD Garden reported an 8% increase in ticket sales a year after the renovation.
They also recorded a 50% uptick in concession sales per capita.
During last year’s NBA finals away matches, the stadium hosted sold-out watch parties attended by over 15,000 fans.
Notably, last year’s Sparks vs. Sun was the highest-attended game for the Connecticut-based franchise. The packed 19,000 crowd was a good start for WNBA’s first event at TD Garden. Per Forbes, Delaware North generated an estimated $4.3B in revenue. Per LeadIQ, $75M of that came from TD Garden. The venue currently employs around 600 contracted employees.
TD Garden’s success demonstrates the power of community-driven marketing. Hosting sold-out watch parties, investing in fan-centric upgrades, and securing long-term partnerships like the TD Bank deal reinforces its status as more than just a sports venue — it’s a cultural landmark.
Both TD Garden and Crypto.com Arena stand as iconic pillars in the sports and entertainment landscape, commanding immense financial value and cultural significance While precise financial details often remain behind closed doors, their record-breaking naming rights deals, lucrative sponsorships, and impactful community programs reveal their undeniable appeal to investors. More than just revenue powerhouses, these venues have set a blueprint for success — seamlessly blending business acumen with fan engagement.
Far beyond their financial clout; TD Garden and Crypto.com Arena have cemented themselves as unmistakable cultural landmarks.
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