[3] In February 2007, Chicago-based businessman Richard Chaifetz, CEO of ComPsych Corporation and 1975 graduate of SLU, made a $12 million donation to the university, which named the arena in his honor.

Chaifetz Arena has been called by former VCU coach Shaka Smart as the toughest venue to play in the Atlantic 10 Conference.

[7] The first event held at the venue was a Harlem Globetrotters game against the Washington Generals, played on April 11, 2008.

The first student concert was held on April 26, 2008, featuring artists Tyler Hilton, Chingy, The Starting Line, Jo Dee Messina, and Augustana.

TNA No Surrender took place at the arena on September 12, 2013, March 6, 2016 Bruce Springsteen performed to the largest sold-out crowd in the building's history with 10,247 sold tickets.

League of Legends North American LCS spring finals was held on April 13, 2019, at the Chaifetz Arena.