The Los Angeles Clippers' soon-to-be-constructed Inglewood Basketball and Entertainment Center was unanimously approved by the Inglewood City Council on Tuesday, the team announced in a press release.
The IBEC will feature an 18,000-seat basketball arena, team practice facility, and corporate offices for the organization. Construction is set to begin in 2021. The venue is expected to be completed ahead of the 2024-25 NBA season.
"Today is a new chapter for the Inglewood Basketball and Entertainment Center, as we move from the land use entitlement process and look toward construction," Clippers president of business operations Gillian Zucker said in the statement. "Every part of IBEC is being designed with purpose - with an unapologetic intensity that will define the experience together for players, musical talent, and fans alike. This arena will prove, beyond a shadow of a doubt, that there is no replacement for live basketball and entertainment."
News of the IBEC's approval comes four months after CAPSS LLC, a group led by Clippers owner Steve Ballmer, purchased The Forum from The Madison Square Garden Company. The acquisition of the Inglewood property helped clear the way for the construction of the IBEC.
The IBEC is expected to generate an estimated $260 million annually in economic activity, and about $100 million in tax revenue in its first 15 years of operation.
The Clippers currently share the Staples Center with their rival Los Angeles Lakers.