Los Angeles Clippers owner Steve Ballmer has been talking for a while about wanting to build an arena of his own — with maybe some kind of L.A. Live–style entertainment district around it — in Inglewood, and now it looks like he’s taken a step closer, with the city voting today on opening talks for a new arena to be built adjacent to the new Rams and Chargers stadium:
The Inglewood City Council is scheduled to vote Thursday on an exclusive negotiating agreement with the Clippers to build a state-of-the-art arena on city-owned land. The 18,000- to 20,000-seat arena would be fully financed by Clippers owner Steve Ballmer, sources said. Ballmer, who is worth an estimated $31.8 billion, bought the Clippers for $2 billion in 2014.
So what does all that mean, exactly? “Exclusive negotiating agreement” means that Ballmer would have three years to work out environmental permits, which works well with his timetable in that he has a lease to play at Staples Center through 2024. As for how the financing would work, it sounds like Ballmer would pay for construction, while Inglewood would provide free land (some of which it may have to acquire, possibly by eminent domain), but there are many other variables — would Ballmer pay rent on the land? would this include land for the entertainment district as well? would he receive any tax breaks? who would pay to operate and maintain the building? — and the agreement itself doesn’t answer any of them, beyond a whole lot of legalese that comes down to “We’ll figure that stuff out later.” This is just the opening buzzer, in other words: Figuring out who’s actually winning, assuming this arena ever gets built at all, is still going to take a while.