The Los Angeles Clippers has broke ground on their brand new arena in Inglewood, California, on Friday (Saturday, Manila time).

The team announced that they will enter a 23-year strategic partnership with Intuit, a global technology platform that makes TurboTax, QuickBooks, Credit Karma, and Mint.

The partnership includes having the naming rights of the Inglewood-based arena, which will be named the Inuit Dome.

"We needed to say, ‘We're our own guys. We don't play in the same place as the other guys. We're going to have our own identity," Clippers owner Steve Ballmer told ESPN.

"We're going to build our own building, more of our own identity, more of our own personality."

The 18,000-seat Intuit Dome is expected to be ready in time for the 2024-2025 season.

CNBC reports that the deal is worth over $500 million.

The Clippers are currently sharing a lease with the Lakers in Staples Center, but that will change in the near future now that the Clippers franchise will have their own home arena.

"The fact we play in the same building, we get the worst nights. It’s Monday Night Football? Who’s gonna play? The Clippers. That’s true by lease. Our lease says we get the least favorable nights after the Kings and the Lakers. That’s an unusual thing. If you look at all the statues that are outside, you’re not gonna see any Clippers statues out, so there’s that," Ballmer said.