Steve Ballmer buys The Forum in LA to make it the new arena for the Clippers

[Nat]

Los Angeles Clippers owner Steve Ballmer has a brand-new asset, albeit one that’s been around for nearly half a century. The former Microsoft CEO has agreed to pay $400 million to purchase the Forum in Inglewood from MSG.

The deal clears a big hurdle in Ballmer’s plans to build a new arena for his NBA team, which has shared Staples Center with the Lakers since the building opened in 1999.

The all-cash purchase, made through the new CAPSS LLC, is set to close in the second quarter.

The Forum deal also settles MSG’s long-running lawsuit that aimed to block the Clippers planned $1 billion arena to be built on Century Boulevard.

Los Angeles Clippers Owner Steve Ballmer Closes Deal To Buy The Forum From MSG – Update

UPDATED, May 4: The Los Angeles Clippers are now official owners of the Forum. Clippers owner Steve Ballmer closed a deal Monday to purchase the Forum from Madison Square Garden Entertainment Corp.…

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