NEWSLETTER
In a day and age where it seems like brand new stadiums and arenas are being thrown up like hotels on Baltic Avenue in Monopoly, the renderings for the Clippers’ new $1.8 billion area in Inglewood, Ca. has to be one of the nicest we’ve seen.
The Clippers and Intuit signed a 23-year naming rights deal for their new $1.8B arena in Inglewood, California
(via @sbjsbd) pic.twitter.com/UJNItT7hyT
— Bleacher Report (@BleacherReport) September 17, 2021
On Friday, it was announced that the Clippers and software powerhouse and California-based, Intuit, have come to terms on a 23-year naming rights deal for the newly named Intuit Dome. According to MSNBC, Intuit will pay north of $500 million for the right to slap their name on the future home of the Clippers, which … wow.
By comparison, Chase Bank struck a 20-year, roughly $300 million naming-rights deal with the Golden State Warriors. And Staples paid entertainment firm AEG over $100 million when it struck its naming-rights agreement for the downtown Los Angeles building in 1999. The company renewed the pact in 2009 and now has lifetime rights to the Staples Center, which is currently home to the Lakers and Clippers.
The Clippers have called the Staples Center home since it opened in 1999. Still, they have always been overshadowed by the Lakers, despite selling out every home game since February of 2011 thanks to the additions of stars like Chris Paul, Blake Griffin, and DeAndre Jordan, and now Kawhi Leonard and Paul George.
Groundbreaking for the proposed 18,000-seat arena is set for today, and the arena is expected to be open in time for the 2024-25 NBA season.
