Even as Crypto.com laid off a part of its workforce amid a raging bear market, the crypto trading platform, along with AEG Sports, has announced a nine-figure investment plan to comprehensively renovate the Crypto.com Arena and Xbox Plaza facilities at LA LIVE.
The company stated that the reconstruction is anticipated to take two years, with the arena remaining open during the entire process.
Dan Beckerman, President, and CEO, of AEG, said Crypto.com Arena is part of the fabric of Los Angeles and plays an important role in creating some of the most memorable moments in sports and entertainment.
“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,” said Beckerman.
Lee Zeidman, President of Crypto.com Arena, Microsoft (NASDAQ:MSFT) Theater, and LA LIVE said the wide-ranging renovations to the arena and Xbox Plaza will provide fans with entirely new ways to experience their favorite sports and music events.
“In addition to creating new and refreshed hospitality options and spaces on multiple levels throughout the arena, nearly all public and backstage areas of Crypto.com Arena will be included in this transformative project. When the wide-ranging renovations are completed, guests, players and fans of the Kings, Lakers, and Sparks, and performers coming to Crypto.com Arena and L.A. LIVE will all experience new offerings,” he said.
Renovations include a city-view terrace and a multi-level tunnel club
For elite members and VIP visitors, the arena will offer a multi-level Tunnel Club with "new hospitality rooms and a unique viewing experience."
The Chairman's Club will also be expanded to provide VIP visitors with improved experiences and privileges in the "most exclusive and sought-after venue" at Crypto.com.
In order to improve visibility and advertising to spectators, the exchange also plans to construct two significant LED displays and conspicuous ribbon boards on the upper and lower bowl seats.
The original architects of the stadium, Dan Meis and Ron Turner, who have spent the last 20 years enhancing sports venues, will be in charge of the project.
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