Steve Ballmer, the chairman of the Los Angeles Clippers has purchased the Forum for $400 million.
Ballmer has made it clear he wants to provide his team with it’s own home arena, the Forum purchase was a major step forward to get that done.
After the formation of CAPSS LLC, Clippers owner Steve Ballmer, and vice-chairman Dennis Wong finally reached an agreement with the Madison Square Garden Company for $400 million.
Ballmer had this to say in a statement:
“This is an unprecedented time, but we believe in our collective future. We are committed to our investment in the city of Inglewood, which will be good for the community, the Clippers, and our fans.”
Ballmer’s purchase of the Forum concludes a lengthy legal battle with the MSG company over the proposed Clippers’ arena development. The arena is set to be constructed in close proximity to the Forum, which is why James Dolan, owner of MSG, previously fought due to the increased competition the Forum would face.
With the purchase, events can now be more easily coordinated that are scheduled to be completed by 2024. One key factor is traffic congestion, which will now seamlessly flow better with Ballmer owning both.
Thankfully, Ballmer plans to keep the historic Forum as a music venue. He will also extend empoyment offers to current MSG staff working on location.
More to come.