L.A. Clippers Explore Option for New, State-of-the-Art Basketball Arena in Inglewood, Calif.

LOS ANGELES–(BUSINESS WIRE)–The L.A. Clippers and the City of Inglewood announced today that they
have entered into a three-year Exclusive Negotiating Agreement (ENA)
that will allow the Clippers to explore building a new state-of-the-art
basketball arena, training facilities and team offices in Inglewood,
Calif. Under the ENA, which was [unanimously] approved Thursday morning
by the Inglewood City Council, the Clippers will consider a 20-acre site
located south of Century Boulevard at Prairie Avenue and directly across
the street from the future football stadium and entertainment district
being developed by The Kroenke Group.

The ENA establishes a three-year timeframe during which the L.A.
Clippers will develop the details of its proposed basketball facility.
The City of Inglewood will conduct an environmental review including an
evaluation of the proposed facility’s construction and operational
impacts.

The Clippers have called STAPLES Center, located in downtown Los
Angeles, home since 1999. The team’s current lease with Anschutz
Entertainment Group, the owners of STAPLES Center, will expire at the
end of the 2023-2024 NBA season.

“Today’s announcement is consistent with what Steve Ballmer and the
Clippers leadership have said for years – we want to be regarded as the
best. That requires setting the highest bar for our performance in every
aspect of our business,” stated Gillian Zucker, L.A. Clippers President
of Business Operations. “To accomplish this goal, we must have options
for the future.”

“This agreement serves as an example of the team’s commitment to
providing Clipper Nation with the best game experience in the NBA,”
Zucker said. “It is another step in the journey toward building a
championship culture that will deliver positive results for Clippers
players, fans and the greater Los Angeles community.”

“The Clippers applaud the energy and vision that Mayor Butts has for his
city,” added Zucker. “His tenacity was instrumental in getting this
Exclusive Negotiating Agreement across the finish line.”

The new arena would be 100 percent privately funded and privately
capitalized. No public dollars will be used for this project.

Under the exclusive negotiating agreement, the L.A. Clippers are
responsible for the costs to plan, entitle and develop the proposed
facility. Within 24 hours of signing the ENA, the L.A. Clippers will pay
the City of Inglewood $1.5 million, which will fund the City’s
administrative costs. If additional funding is required, the Clippers
will provide the necessary resources.

About the L.A. Clippers

The L.A. Clippers play in the Pacific Division of the Western Conference
of the National Basketball Association (NBA). The Clippers have won two
division titles (2013, 2014) and are coached by Doc Rivers. Under the
vision of owner Steve Ballmer, the Clippers have emerged as one of the
most innovative franchises and business partners in basketball. Tickets
for home games at STAPLES Center can be purchased at www.clippers.com/tickets.
In addition to on-court success, the Clippers are committed to making a
difference in Southern California through numerous community programs
and the L.A. Clippers Foundation. For more information on the Clippers
players, organization, stats and tickets, please visit www.clippers.com.

Contacts

For L.A. Clippers
Matt Klink
310-283-6267
[email protected]
or
Dennis
Rogers
310-862-6028
[email protected]