- Agreement represents the most expensive arena naming rights deal in NBA history, according to Sportico
- Announcement made as Clippers break ground on new venue, which is slated to open ahead of 2024/25 season
- Intuit Dome is forecast to generate US$260m in annual economic activity
Financial software provider Intuit has secured the naming rights to the future home of the National Basketball Association’s (NBA) Los Angeles Clippers for 23 years.
The 18,000-seater venue, which is being built in Inglewood at a reported cost of US$1.8 billion, will be known as the Intuit Dome.
The financial terms of the agreement were not made public, but CNBC reported that the deal is worth more than US$500 million, while Sportico claims it is the most lucrative naming rights pact in NBA history in terms of overall value.
The announcement was made as the Clippers broke ground on the new arena, which is scheduled to be completed in time for the 2024/25 NBA season.
Clippers owner Steve Ballmer said: “When we began the search for a partner for the LA Clippers and our new dome, we looked for one that shares our passion for technology, the pursuit of innovation and our commitment to customers, fans and community. Intuit is a perfect fit and we’re excited to be calling our future home the Intuit Dome.”
The deal comes just over a year after the Clippers appointed the CAA Sports agency to find a naming rights partner for their new home, which is expected to generate US$260 million in annual economic activity.
The partnership with Intuit will also see the Clippers launch new initiatives designed to ‘reinvigorate the local economy and local business’.
The Clippers’ relocation to the Intuit Dome will see them make the move from Staples Center, which the team has shared with the Los Angeles Lakers since 1999.
Among the features at the Intuit Dome will be a two-sided halo scoreboard encircling the arena bowl with an acre of LED lighting, as well as an 80,000-square-foot outdoor plaza. There will also be 51 uninterrupted rows of seats inside, which the team is referring to as ‘The Wall’.