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Clippers Owner Steve Ballmer Invests $100M in Inglewood in Deal for New Arena

Clippers Owner Steve Ballmer Invests $100M in Inglewood in Deal for New Arena

Andrew D. Bernstein/Getty Images

The Los Angeles Clippers may soon be leaving Staples Center behind, as ESPN's Ohm Youngmisuk reported Tuesday that team owner Steve Ballmer has invested $100 million in the city of Inglewood, California, where the Clips are aiming to move.

Per Youngmisuk, the investment "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."

Youngmisuk also reported that $80 million of the investment will go toward affordable housing as well as financial assistance to renters and first-time homebuyers.

School and youth programs will benefit from an additional $12.75 million.

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