LOS ANGELES, California — The Los Angelea Clippers owner Steve Ballmer has reached an agreement to purchase the Forum in Inglewood, California.
The Clippers announced that the newly-formed CAPSS LLC reached the agreement with The Madison Square Garden Company, which owned the Forum, to purchase the music venue for $400 million in cash.
“This is an unprecedented time, but we believe in our collective future,” Ballmer said in the news release. “We are committed to our investment in the City of Inglewood, which will be good for the community, the Clippers, and our fans.”
The purchase of the Forum remains subject to closing conditions but is expected to close during the second calendar quarter of 2020.
“By reaching an agreement with MSG, CAPSS LLC will acquire the Inglewood venue, simultaneously resolving litigation surrounding plans for the new NBA arena,” the release said.