The announcement was made by ESPN President George Bodenheimer and AEG President and CEO Timothy J. Leiweke. AEG -- owner and operator of STAPLES Center -- which will serve as the primary venue for the X Games, represented the City of Los Angeles in reaching the agreement. The X Games showcases more than 300 of the world's best action sports athletes competing in a variety of sports categories for medals and prize money.

An official release informs that under the terms of the two-year agreement, competitions in Bike Stunt, Moto X, Skateboard, Aggressive In-line Skate and Speed Climb will be held inside and around STAPLES Center (Aug. 14-18). The Moto X Freestyle event will be held in the Los Angeles Coliseum at night under the lights (Aug. 15 or 16), while Wakeboard, Skateboard Street and Downhill BMX will take place the week prior at locations to be determined.