INGLEWOOD, California – The LA Clippers have received final approval from the Inglewood City Government to begin construction on their new arena next summer.
The Clippers announced approval from the city council on Tuesday, along with a joint agreement to purchase public property on the arena’s site for $ 66.25 million.
Clippers owner Steve Ballmer is building a privately funded 18,000-seat arena along with a practice facility and corporate offices for his NBA franchise, which has shared downtown Staples Center with the Los Angeles Lakers and Los Angeles. Kings of the NHL since its opening in 1999.
Ballmer plans to open his new arena in 2024, shortly after his team’s lease at Staples Center expires. The Clippers plan to pave the way for the estimated $ 1.2 billion project in 2021.
The Clippers immediately opened a waiting list for subscriptions in their new arena. The naming rights for the project currently called Inglewood Basketball and Entertainment Center have already been acquired worldwide in partnership with CAA Sports.
“Today is a new chapter for the Inglewood Basketball and Entertainment Center as we move away from the land use permit process and look to construction,” Gillian Zucker, Clippers president of commercial operations, said in a statement. “Each part of the IBEC has been designed with a purpose – with unrepentant intensity that will define the experience together for players, musical talents and fans alike. This arena will prove, without a shadow of a doubt, that there isn’t any. is substitute for live basketball and entertainment. “
Inglewood’s approval was expected for a project that it claims will create 1,500 full-time jobs and $ 100 million in tax revenue in its first 15 years of operation.
The only major obstacle to Ballmer’s plans to date has been the Madison Square Garden Company, which owned the venerable Forum just north of the Clippers’ proposed site. MSG is suing Inglewood, California Governor Gavin Newsom, and the state legislator for slowing Ballmer’s progress, apparently fearing competition for concerts and other events.
Ballmer, the former Microsoft CEO with an estimated net worth of about $ 75 billion, solved the problem in March by buying the Forum outright for $ 400 million in cash. He says he will continue to run the famous 1980s Showtime Lakers home as a live music venue.
The Clippers arena site and the Forum are separated only by SoFi Stadium, the new $ 5 billion football arena and surrounding development built by Los Angeles Rams owner Stan Kroenke. SoFi Stadium opens on Sunday with the opening of the Rams’ season against the Dallas Cowboys.
When the new Clippers’ home is built, four major arenas – the SoFi Stadium contains a 6,000-seat performance venue in addition to the main football stadium – will sit one mile away.
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