Los Angeles Clippers owner Steve Ballmer invested $100 million in the city of Inglewood on Tuesday, according to Ohm Youngmisuk of ESPN.
It's the next step for the Clippers, who are building a new arena in the Inglewood area.
Ballmer's $100 million community benefits plan was negotiated with city officials from Inglewood as part of their arena development agreement and is set to be revealed Tuesday at an Inglewood City Council meeting.
The Clippers, citing public records, called it the largest commitment of funding for community programs made in connection to a sports or entertainment venue in California, with $80 million of it going toward affordable housing, assistance to renters and first-time homebuyers, and $12.75 million going toward school and youth programs.
It's a great time to be a Clippers fans. The team signed Kawhi Leonard in free agency and traded for Paul George this summer. With Leonard and George leading the charge, the Clips are now considered legitimate title contenders for the first time in franchise history.
Steve Ballmer said back in July he wants LAC to have the best home in all of sports. The new stadium is targeted for completion by fall of 2024, following the expiration of the Clippers’ lease at Staples Center.
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