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The Forum in Inglewood officially renamed 'Kia Forum'

LA Forum changes its name to Kia Forum 00:25

Starting Monday, Los Angeles' landmark "The Forum" Sports and Entertainment Arena in Inglewood has a new name, "Kia Forum." 

Passersby in Inglewood last Thursday saw a new sign being raised outside the venue, proclaiming it the "Kia Forum," thanks to a naming-rights deal between the automaker and venue owner Steve Ballmer.  

On Monday, the Southern California based automaker released a sleek video promoting their cars and ushering in The Forum's new name. Kia America announced it will add a large bank of electric charge stations in the parking lot. 

No details of the deal -- first reported by the digital news site Sportico -- have been released by the Forum about terms of the agreement. A news conference is scheduled at the Forum on Monday morning.  

The company recently bought the naming rights from Ballmer, who purchased the Forum two years ago, ostensibly to resolve a legal battle launched by previous owner Madison Square Garden Co. over Ballmer's plans to build a new arena for the Los Angeles Clippers just blocks away. MSG officials claimed the project violated its agreements with the city of Inglewood by placing a competing venue in the area. 

The Kia Forum is the former home of the Lakers and Kings and nicknamed the "Fabulous Forum." The arena is now primarily used as a music venue. The renaming comes a few months after the Staples Center was renamed arena in the largest naming rights deal ever, at $700 million over 20 years.

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