Early renderings show three, tricolor boxy towers in an L-shape around the southeast side of the arena, which faces the busy intersection of Atlantic and Flatbush avenues in Brooklyn.

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Hansen and Ballmer probably know they will only make a lot of money if they successfully develop the land around the new arena, like Philip Anschutz did with L.A. Live and the Staples Center.

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The arena has become the beloved home of the L.A. Lakers (of which Anschutz owns a third outside of AEG) as well as the L.A. Kings hockey team (which AEG owns).

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AEG, in partnership with Ryan Seacrest, soon plans to launch a new music-and-lifestyle-themed TV network that will bring viewers into the likes of L.A. Live, Shanghai's new Mercedes-Benz Arena and the O2.

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