The Inglewood Basketball and Entertainment Center (IBEC) received final approval today from the Inglewood City Council, fully entitling the world-class campus that will include an 18,000-seat basketball arena, team practice facility and corporate offices for the L.A. Clippers. As a result, the Clippers have opened their waitlist for season tickets and other selected arena experiences.
The City Council’s unanimous approval of the Disposition and Development Agreement (DDA) provides the terms for Murphy’s Bowl, the entity developing IBEC, to purchase the publicly-owned property within the arena site for a total purchase price of $66.25 million. The total purchase price will be shared among the City, the FAA, Los Angeles World Airports and other local entities, including the Inglewood Unified School District. The DDA contains long-term commitments from Murphy’s Bowl, following acquisition of the site, to develop and operate the arena and related facilities.
“Today is a new chapter for the Inglewood Basketball and Entertainment Center, as we move from the land use entitlement process and look toward construction,” said Gillian Zucker, Clippers President of Business Operations. “Every part of IBEC is being designed with purpose – with an unapologetic intensity that will define the experience together for players, musical talent and fans alike. This arena will prove, beyond a shadow of a doubt, that there is no replacement for live basketball and entertainment.”
The privately-financed IBEC project will include a world-class facility that is uniquely designed to prioritize fan comfort and ease, player experience, home court advantage and community. IBEC will reimagine live entertainment, creating a new standard for live experiences all on its own. The one-of-a-kind facility will be set within an open, indoor-outdoor atmosphere that showcases what the world loves best about Southern California. The campus in Inglewood will serve as a hub that brings the Clippers organization together, with a new team practice facility and corporate offices. The project, expected to break ground in summer of 2021, will open for the start of the 2024-25 NBA season.
In August, the Clippers announced a global partnership with CAA Sports, a division of Creative Artists Agency (CAA), to bring to market the naming rights for the arena. CAA Sports’ industry-leading Property Sales division has completed more than $4 billion in new sponsorship business on behalf of its clients.
IBEC will create more than 7,000 full and part-time construction jobs and up to 1,500 permanent full and part-time jobs when the complex opens. Local hire goals are in place to help fill 30 percent of the construction jobs and 35 percent of arena operation jobs with local area residents.
IBEC will generate an estimated $260 million in annual economic activity for Inglewood and approximately $100 million in tax revenue over the first 15 years of operation. That money will help support vital city services such as parks, libraries and police and fire stations. The Clippers’ one-of-a-kind basketball arena reflects the team’s commitment to being environmentally-friendly and energy efficient, while providing the City of Inglewood with the largest community benefits package ever connected to a sports venue at $100 million.