Clippers Reportedly to Announce New Arena in Inglewood

The Los Angeles Clippers will reportedly announce they are close to finalizing plans for a new stadium in Inglewood, California, on Thursday, according to the Los Angeles Times' Brad Turner and Los Angeles Daily News' Vincent Bonsignore. 

Citing a source, Turner reported Clippers owner Steve Ballmer will finance the stadium "100 percent with his own money." 

Nathan Fenno of the Los Angeles Times reported the Inglewood City Council will meet Wednesday to approve the exclusive negotiating agreement.

In February, the Los Angeles Times' Sam Farmer and Fenno reported Ballmer had "multiple discussions" with Los Angeles Rams owner Stan Kroenke about his team building an arena in Inglewood near the future home of the Rams and Los Angeles Chargers. 

The Clippers have shared Staples Center with the Los Angeles Lakers and NHL's Los Angeles Kings since the building opened at the start of the 1999-2000 NBA season. 

However, they reportedly haven't been in an advantageous financial position during their time as a co-tenant. 

Last July, ESPN.com's Kevin Arnovitz reported the Clippers receive "a smaller share of proceeds from suites and club seats than the Lakers and Kings, according to sources, and a lesser say in scheduling and the overall fan experience at the arena."

In January 2013, the Clippers announced they had agreed to a 10-year extension of their Staples Center lease. According to Arnovitz, the team plans to fulfill the terms of the lease before bolting for a new building.