Much has been made about the Los Angeles Lakers agreeing to change the name of the iconic Staples Center to Crypto.com Arena. Dallas Mavericks owner Mark Cuban has chimed in on the controversial development and it looks like he has a few qualms about this move.
For starters, Cuban admitted that he thought this was a “brilliant deal” for the Lakers. Crpto.com reportedly paid the franchise a whopping $700 million for the naming rights of LA's home stadium, which as it stands, is historically one of the most expensive deals of this nature. Cuban himself is no stranger to big-money deals so he definitely knows a good one when he sees it.
Nevertheless, the Mavs owner still has some concerns about this recent transaction. Cuban's issues stem from the fact that companies such as Crypto.com hold their operations outside U.S. soil (h/t Joey Linn of FanNation):
Cuban elaborated on his initial thoughts, stating that these crypto companies are killing it right now. His only concern was focused on the fact that these companies are often based outside of the United States, due to certain regulations that exist within the U.S. Cuban would like to seek ways to get these companies back into the United States.
Always the economist and the patriot, Mark Cuban would much prefer if the United States is able to somehow find ways to attract these highly-profitable crypto-based companies to operate within the country. Given how big cryptocurrency currently is, as well as the financial potential it holds, driving these back into the U.S. will certainly give the economy a significant boost both in the interim and in the long term.
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