NBA basketball franchise the Los Angeles Clippers has signed financial software company Intuit as the naming rights sponsor of its new arena, as it breaks ground on the project today (Friday).

Intuit, which makes TurboTax, QuickBooks, Credit Karma and Mint, has agreed a 23-year strategic partnership with the Clippers, which CNBC reports is worth over $500m (£362.3m/€424.5m). The 18,000-seat Intuit Dome is scheduled to open in Inglewood, California for the 2024-25 NBA season.

“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,” said Steve Ballmer, LA Clippers chairman. “Intuit is a perfect fit and we’re excited to be calling our future home the Intuit Dome.”

Through the partnership, Intuit and the Clippers will create new programs in a bid to reinvigorate the local economy and local businesses through creating jobs, enabling job readiness, and educating entrepreneurs to help them better run their businesses and transform their financial lives.

The Clippers have committed to the City of Inglewood the largest community benefits package ever associated with an arena, generating an estimated $260m in annual economic activity.

Intuit Dome has been designed to create an intimate and intense fan experience through features such as ‘The Wall,’ which is comprised of 51 uninterrupted rows of seats that include a dedicated supporters’ section; a two-sided halo scoreboard encircling the bowl with an acre of LED lighting; and an 80,000 square foot outdoor plaza, surrounding a full-size outdoor court.

Technological advancements within the $1.8bn Intuit Dome will allow for frictionless concession stands, enabling fans to spend more time in their seats.

Sasan Goodarzi, Intuit CEO, said: “Intuit and the Clippers are mission-driven organisations that share the common goal of putting their customers and fans first. We both have a focus on creating extraordinary experiences enabled by innovative technology.

“The Intuit Dome will reflect Intuit’s focus on innovation to deliver best-in-class products and services including TurboTax, QuickBooks, Mint and Credit Karma to help our customers achieve their financial goals. Intuit and the Clippers have a history of supporting local communities, and we look forward to investing in and contributing to the Inglewood community to help them prosper.”

The Clippers had targeted this summer to begin work on what was then known as the Inglewood Basketball and Entertainment Center (IBEC) after receiving final approval for the project in September 2020, with the NBA team opening their waitlist for season tickets and other selected arena experiences.

Inglewood City Council granted final approval for the campus that will include an 18,000-seat basketball arena, team practice facility and corporate offices for the Clippers. The City Council’s unanimous approval of the Disposition and Development Agreement (DDA) provided the terms for Murphy’s Bowl, the entity developing IBEC, to purchase the publicly-owned property within the arena site for $66.25m.

The Clippers have shared Staples Center with the Los Angeles Lakers and NHL ice hockey team Los Angeles Kings since it opened in 1999, but have long been seeking a home of their own. When the Clippers’ new home opens, four arenas will be located within a one mile radius, with SoFi Stadium, the new home of the NFL’s Rams and Chargers, including a 6,000-seat performance venue.

Image: LA Clippers