The downtown L.A. home of the Lakers and Kings is getting a makeover.
Anschutz Entertainment Group — better known as AEG — announced plans last week to make a nine-figure investment in capital improvements and property-wide upgrades to the Crypto.com Arena, formerly the Staples Center, and L.A. Live’s Xbox Plaza.
The comprehensive slate of renovations — which will overhaul nearly all spaces of the venue, entry and plaza — launched earlier this summer and is scheduled for completion in fall 2024.
The arena will remain open during all phases of the work.
“Crypto.com Arena is part of the fabric of Los Angeles, and we are incredibly proud of the role it continues to play in creating some of the most memorable moments in sports and entertainment,” Dan Beckerman, president and chief executive of AEG, said in a statement.
“Since its opening, we have invested hundreds of millions of dollars to ensure that the venue remains state-of-the-art, while consistently creating a world-class event and fan experience. The investment in these renovations demonstrates the ongoing commitment of AEG, the Lakers and the Kings to deliver the best experiences for all of our fans, partners, artists and teams.”
The renovations to Crypto.com Arena will include a new terrace with flexible indoor-outdoor dining and entertainment; the development of the arena’s first-ever multi-level Tunnel Club, which will include new hospitality spaces and an event-level viewing experience that offers select season ticket members and other VIP guests a personal backstage window to watch players and performers as they enter and exit their locker rooms; and the creation of main concourse suites that will give guests close-up views of the action on the court, ice or stage.
AEG is also installing two LED screens and upgrading the Impact Sports Bar & Grill on the main concourse.
In addition to the renovations at Crypto.com Arena, the project will expand L.A. Live’s Xbox Plaza, which will include two new electronic outdoor marquees.
Originally opened at 1111 S. Figueroa St. as the Staples Center in 1999, Crypto.com Arena underwent a name change last December after the rights were acquired by Singapore-based cryptocurrency exchange Crypto.com.
