Revealed: First AIS Arena event locked in after four-year wait. And it's free

The multi-purpose arena has been named as the official LIVE site for the 2024 Olympics and Paralympics, and will host two family-friendly events on Sunday, August 4 and Saturday, August 31.

The site will feature big screens with bean bags to kick back and watch the live broadcast and replays of the Games via Channel 9, between the hours of 10am and 2pm. There will also be a range of sport demonstrations and challenges, food trucks and kids activities including face painting and colouring-in.

There will also be site tours running every 30 minutes and free access to the Australian Sports Commission's interactive sports exhibit, Sportex. The AIS Visitor Centre will also be decked out in green and gold and will broadcast the Games during opening hours.

Sports Commission chief executive officer Kieren Perkins said they were pleased to partner with the Australian Olympic Committee and Paralympics Australia to bring the LIVE site to Canberra.

"We're delighted to be chosen as Canberra's Olympic and Paralympic LIVE Site joining iconic venues around the country such as South Bank, Federation Square, Yagan Square and Darling Harbour," he said.

"The newly refurbished AIS Arena is a fantastic facility, and I can't think of a better opportunity for Canberrans to see it for themselves next month.

"With Brisbane 2032 just eight years away, there's every chance that future Olympians and Paralympians could be in the crowd cheering on their idols and being inspired to chase their own sporting dreams."

The multi-million dollar revamp is the biggest refurbishment in the 43-year-old venue's history.

The completion of the major overhaul comes almost exactly four years to the day since Australian Community Media revealed the Australian Sports Commission had closed the arena "indefinitely" in 2020 because of safety concerns.

But visitors will now be greeted by brand-new seating, climate-controlled air-conditioning and a bay of windows which let light in like never before.

The ACT government was caught off guard by the closure in 2020, but Chief Minister Andrew Barr was reluctant to invest in remediation work because it was a federal government-owned asset.

The issue was thrust on to the federal election stage in 2021 and a commitment was made to fund the required work. Finance Minister and ACT Senator Katy Gallagher said the "iconic venue" had been neglected over decades.

"Bringing back this iconic venue is more than just fixing up a building, it means Canberrans can once again enjoy concerts, community, and sporting events," she said.