The billion-dollar arena is set to be fully funded by owner Steve Ballmer.
The Clippers revealed renderings for a new, 18,500-seat, billion-dollar arena in Inglewood on Thursday that would be fully funded by owner Steve Ballmer, who is the wealthiest owner of a professional American sports franchise. Los Angeles also unveiled the proposed practice facility, team offices, medical facility, retail stores, restaurants and parking that would accompany the arena on a 26-acre Inglewood Basketball & Entertainment Complex.
The team believes it will begin construction on the venue in 2021 and will open three years later. The proposed plans would require no taxpayer dollars and will be built on property owned by the city of Los Angeles.
The team currently shares the Staples Center with the Lakers and the NHL’s Kings. The team’s lease at Staples ends in 2024 when it plans to move into its new arena, barring delays.
Ballmer, who has owned the team since 2014, said that building a new arena for the Clippers "is a way for us to define our own identity."