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Los Angeles

“Nine-figure” upgrade coming to DTLA’s Crypto.com Arena

AEG’s makeover to 20K-seat venue already underway to finish by fall 2024

AEG's Dan Beckerman and Crypto.com arena at 1111 S. Figueroa Street5 (AEG)
AEG's Dan Beckerman and Crypto.com arena at 1111 S. Figueroa Street5 (AEG)

The Downtown Los Angeles sports arena formerly known as Staples Center is up for a “nine-figure” makeover, according to its owner.

Anschutz Entertainment Group, based in the city, has filed plans for a “nine-figure” upgrade to its Crypto.com Arena at 1111 South Figueroa Street, Urbanize Los Angeles reported. The estimated cost was not disclosed.

The overhaul of the 23-year-old indoor stadium – home to the NBA’s L.A. Lakers and L.A. Clippers, the NHL’s L.A. Kings and the WNBA L.A. Sparks teams – has started and is expected to be completed by fall 2024.

Much of the work is expected to be finished before the 2022-2023 basketball and hockey seasons. Plans call for opening the upper floors onto a terrace, with views of the Downtown to the north and the arena bowl to the south.

AEG will add “Tunnel Club” at different levels of the arena to allow season ticket holders to view players and performers entering and exiting the locker rooms.

The company plans to revamp the Chairman’s Club, the Yaamava’ and Lexus clubs and the Impact Sports Bar & Grill, while installing new main concourse suites with closer views of the court.

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It will hang two new LED screens and ribbon boards above center court and ice, while upgrading the main and upper-level concourses and the entrances to premium and suite-level areas.

Outside, AEG plans to close Chick Hearn Court on the north side of the arena to car traffic, allowing for an expansion of the Xbox Plaza at its L.A. Live campus.

New outdoor marquees are planned in conjunction with the plaza expansion.

Construction is expected to overlap with a $1 billion expansion of the adjacent L.A. Convention Center and L.A. Live, including a new tower at the Ritz Carlton hotel complex.

The name of the 20,000-seat Staples Center was changed to Crypto.com Arena in November after AEG sold the naming rights to the Singapore-based cryptocurrency exchange Crypto.com for $700 million.

— Dana Bartholomew

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AEGCommercial Real EstateCrypto.com ArenaDowntown Los AngelesStaples Center