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.
Since the 2008–09 season, it has been the home of the Saint Louis Universitymen's and women's basketball teams.[5] Additionally, the attached Chaifetz Pavilion includes a two-court basketball and volleyball practice facility that also serves as an 800-seat venue that is the home for the university's volleyball teams.[6] The arena, known as "the Jewel of Midtown," includes a three-story athletic office. Chaifetz Arena has been called by former VCU coach Shaka Smart as the toughest venue to play in the Atlantic 10 Conference.[7]
Saint Louis University held its first commencement ceremony on campus in 60 years at the arena on May 17, 2008. Fox Sports personality and native St. Louisan Joe Buck delivered the Commencement Address.
The first political rally at the Arena was on October 2, 2008, for Republican vice presidential candidate Sarah Palin. She appeared to supporters after the 2008 vice presidential debate held at Washington University in St. Louis.[9]
The arena hosted the Monster Truck Spectacular Fall Nationals on October 17, 2009.
The USA Gymnastics Championships occurred June 7–10, 2012 at the Chaifetz Arena.
TNANo 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.
The 2016 Men's U.S. Olympic Trials and P&G Gymnastics Championships were held at Chaifetz Arena June 23–26, 2016. The 2018 SEC Gymnastics championships were held at the arena.
League of Legends North American LCS spring finals was held on April 13, 2019, at the Chaifetz Arena.[10]
Professional wrestling promotion All Elite Wrestling held an episode of their weekly television show AEW Rampage at the arena on November 5, 2021.[11] On January 20, 2024, AEW held an episode of their weekly television show AEW Collision. On April 21, 2024, All Elite Wrestling held Dynasty at the arena.
Tim McGraw performed a benefit concert at Chaifetz Arena on April 29, 2023. Proceeds from the show went to benefit Cardinal Glennon Children's Hospital in St. Louis. The show was sold out. The Zac Brown Band is scheduled to perform April 6, 2024 for Cardinal Glennon.