Renderings have been released of new terrace and tunnel suites at Crypto.com Arena that will form part of the ongoing nine-figure renovation project at the Los Angeles venue.
The second phase of the renovation project will include the creation of four tunnel suites and four terrace suites, which will seek to provide an immersive experience during events at Crypto.com Arena.
Work has not yet commenced on the new spaces but arena owner AEG said that two tunnel suites and three terrace suites have already sold out, generating more than $300m (£234m/€271m) in new contractually obligated income in long-term lease agreements. Guests are able to purchase 10- and 20-year terms.
Michele Kajiwara, head of premium sales at Crypto.com Arena, told the Los Angeles Times: “There is a certain cachet that comes with whoever is going to be buying these, because they want the best of the best.”
She added: “We are talking to private equity (investors), billionaires – anyone who can look at seven figures over double-digit years and not feel stretched to have to justify it.”
The tunnel suites will be located on the event level of Crypto.com Arena and will have capacity for 12 people, with perks to include a dedicated VIP entrance in the tunnel, all-inclusive food and beverages, and a personal suite attendant.
Guests in the tunnel suites will be given the opportunity to choose between one or two luxury suite design options with high-end finishes, or a fully customisable suite to their liking.
The tunnel suites will provide access to all events at Crypto.com Arena (formerly Staples Center), which is home to the NBA’s Lakers and Clippers, the NHL’s Kings, the WNBA’s Sparks and the Grammy Awards. It will also be a host venue during the 2028 Olympic Games in Los Angeles.
Tunnel suite-holders will be able to pull right up to the entrance under the arena next to where players park.
The terrace suites will be located on the main concourse and will have capacity for 14 people. These suites will provide guests with 14 tickets to all Lakers, Clippers and Kings games including playoffs, concerts, special events and shows, and first right of refusal to purchase tickets to private events such as the Grammy Awards.
The terrace suites will also offer in-suite private dining, access on non-event nights, and a dedicated premium service manager.
The second phase of Crypto.com Arena’s renovation project will also include construction of a new press room and sound system, a completely renovated upper concourse including new food offerings and fan amenities, and a new state-of-the-art Sales Center.
Crypto.com Arena announced the completion of the first phase of renovations to the venue back in October. The upgrades included a reimagined Chairman’s Club, end-wall visual displays courtesy of Daktronics, and the introduction of Amazon’s Just Walk Out technology.
The renovations were announced by AEG in August 2022 and are scheduled for completion in the autumn of 2024.
In May, Delta Air Lines renewed its long-running partnership with AEG in a deal that included sponsorship of the reimagined Chairman’s Club space at Crypto.com Arena. The space is now officially known as the Delta Sky360° Club.
