Clippers will announce plans for new arena Thursday

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According to multiple sources, the Clippers and the city of Inglewood are closing in on entering an Exclusive Negotiating Agreement (ENA) on 22 acres of land between Prairie and Yukon Avenue south of Century Boulevard.

The Clippers moved into Staples Center in 1999 and have been sharing it with the Los Angeles Lakers and the Los Angeles Kings of the National Hockey League since.

Ballmer financing the arena himself eliminates the roadblock of looking for lots of public money, which has caused issues for other owners in the past.

It looks like Clippers owner Steve Ballmer, formerly of Microsoft, will foot the bill for the stadium. Kroenke's plans call for retail and residential (and possibly some office space) around the stadium, and a new arena to house the Clippers and other events certainly would fit in with that model.

Assuming the votes for the ENA go positively, the Clippers will announce the news on Thursday.

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While Kroenke and the Rams aren't directly involved in the Clippers' plans, the addition of 41 regular-season National Basketball Association games as well as other events the arena would attract every year would come as welcome news to Kroenke, as he plans to open restaurants, stores and a hotel on his site.

This would be the first time the Clippers had a home of their own since 1984.

Ballmer purchased the team for $2 billion in 2014 with the Staples Center also being shared with the Los Angeles Kings and Los Angeles Lakers.

The Clippers have a lease with the Anschutz Entertainment Group to play in Staples Center through 2024. It is now one of the premier concert destinations in Los Angeles.