This Will Be The New Crypto Arena

2 years ago · Updated 2 years ago

✍️ 22 September, 2022 - 12:29 👤 Editor: Jakub Motyka

Crypto.com arena is planning a 3-year major renovation.
The privately funded project will create an ultra-modern sporting experience.

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Crypto.com arena is preparing for a 3-year renovation. The project, which started in May, is a significant re-imaging of the 23-years old sports venue. Big jumbo screens, revamped concession stands, are some of the enhancements to boost the ambiance of the sports complex.

Also, the upgrade includes premium seats and other details like ticket holders. Impact Sports and Grill, next to the main plaza, and the private Chairman's club are also getting a facelift. The project will extend until the Lakers, Clippers, and King resume in the fall.

Crypto.com Arena president, Lee Zeidman, says improvements are necessary for efficiency. He adds that the renovation will bring state-of-the-art facilities. Part of it is ultra-modern restrooms for ease of use in the facility.

Glass-Walled Clubs, 65 ft Video Boards, And Sounds Systems

Zeidman reported that the project would follow industry trends emphasizing fan experience. The street linking the sports complex and L.A. will be expanded. Specifically, it will feature a public plaza for entertainment with lots of Music and tents. Above that, the space will get adorned with beautiful trees.

ICYMI: We are embarking on a three year renovations project!
More info: https://t.co/l57LAtLi3w pic.twitter.com/oGTz8rphBh
— Crypto.com Arena (@cryptocomarena) August 22, 2022

Besides, the glass-walled club will reportedly display players and a locker room area. Other improvements include enhancing the indoor and outdoor space to allow patrons to interact. The space will have a downtown view.

The work for the second renovation phase will start on the two-story tunnel club and the bar space. It will further allow patrons to watch games along a glass wall.

Construction Of The Outdoor Plaza To Start In 2023

More adjustments will come next summer, especially on the Southern side of the building. They include two 65-foot video boards, additional LED ribbons, and three full rings. It will also incorporate new lighting and concession menus. Equally, sensors will automate and register customers' purchases at exit points.

The renovation cost is currently concealed but rumored to be at nine figures. The project privately funded. The CEO of AEG, the entity owning the Arena, Dan Beckerman, commented that the space is a million square feet with a lot of opportunity for adjustments. The executive maintains that the original arena design left enough space for improvements.

News about the renovations comes amid crypto volatility and extended market volatility. Crypto.com Arena rebranded from Staples Center in 2021 following a $700 million deal with AEG. The title sponsor, Crypto.com, spends $35 million annually for the naming rights.

About the renovations, the exchange's CEO, Kris Marszalek, is very optimistic. Marszalek said that the exchange is delighted to support AEG's investment in the Arena.

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Jared Kirui

EN: Jared Kirui is an experienced financial writer with a passion for all things blockchain technology. Previously, he was into stock markets and forex, providing asset managers with top-notch content. With a flair for producing high-quality articles, he started covering crypto news in 2021. He is open-minded, trades for fun, and enjoys sports.

ES: Jared Kirui es un escritor financiero experimentado apasionado por todo lo relacionado con la tecnología blockchain. Anteriormente, estuvo en los mercados bursátiles y forex, brindando a los administradores de activos contenido de primer nivel. Con un don para producir artículos de alta calidad, comenzó a cubrir noticias crypto en 2021. Tiene una mente abierta, comercia por diversión y disfruta de los deportes.