CAA Sports, a division of Creative Artists Agency (CAA), has been engaged to shop a Los Angeles Clippers arena naming rights deal.
The arena is still in the planning stages, with a summer 2021 groundbreaking expected and an opening for the 2024-25 NBA season. Early action on a Clippers arena naming rights deal would give the partner the chance to provide input on the project as planning continues.
The potential here is for a huge deal. Even after the economy slowed down in the midst of a pandemic, we’re seeing large naming-rights deals moving forward. Last month the New York Islanders and Oak View Group announced a naming-rights deal for UBS Arena, the team’s new home at Belmont Park, reportedly running for 20 years at $400 million. The naming-rights deal between Amazon and the Seattle Kraken (NHL) for Climate Pledge Arena has been estimated at $20 million a year for 20 years.
CAA Sports previously managed naming-rights deals for Levi’s Stadium, home of the San Francisco 49ers (NFL), and Chase Center, the Golden State Warriors home that opened for the 2020-2021 season. In San Francisco, the naming-rights deal was estimated between $300 million and $400 million for a 20-year deal.
The new billion-dollar Clippers arena, now called Inglewood Basketball and Entertainment Center, is billed as having 18,000 seats for NBA basketball as well as plenty of high-end amenities.
“We are thrilled to partner with CAA on this endeavor, as we work together to identify a corporate partner who shares our values and embraces our vision for what this campus will mean to the Clippers community,” said Gillian Zucker, Clippers President of Business Operations, in a press statement. “We have set an ambitious goal to provide disproportionate value to a naming rights partner by having them in-place before a shovel hits the ground in Inglewood. This aggressive timing will provide a unique opportunity to incorporate our partner’s brand into the design of the construction and deliver their own personal touch to this amazing facility.”
“We are proud to work alongside the visionary ownership and management team of the LA Clippers, to bring to market the naming rights for their new arena in the city of Inglewood,” said Paul Danforth, CAA Board Member and President, CAA Sports, in a press statement. “Steve’s vision for ‘the best home in all of sports,’ combined with the dynamic Clippers franchise and explosive growth of the NBA worldwide, makes this a singular opportunity for a marketer to plant its flag in the sand in the vibrant capital of sports, media, and entertainment.”
Rendering courtesy L.A. Clippers.
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