Less than two weeks after the Los Angeles Clippers made a 23-year, $500 million deal with Intuit for naming rights to its new arena, the team has reportedly secured more than $300 million in an agreement with Aspiration.
The online bank will display ads throughout the venue. The building, set to open in 2024, costs a reported $1.2 billion, adding to the $66.2 million owner Steve Ballmer paid for the land and $300 million for The Forum.
Aspiration is focused on being green-friendly, matching well with the Clippers’ goal of making the Intuit Dome 100% carbon-free.
- Philadelphia 76ers coach Doc Rivers is an investor in Aspiration. The company has raised $450 million to date.
- Last month, it entered an agreement to go public via SPAC merger with InterPrivate III Financial Partners, which will value the combined company at $2.3 billion.
Ballmer, who purchased the Clippers for $2 billion in 2014, wants to make Intuit Dome the most sustainable arena in the world. It will reportedly save 10 million gallons of water per year and reduce vehicle trips by 15% through carpool incentives.
Intuit Dome will generate an estimated $260 million in annual economic activity for the surrounding Inglewood neighborhood.