After years of lawsuits and negotiations, Los Angeles Clippers owner Steve Ballmer cleared the way for his long-desired new arena.
The Clippers announced Tuesday that Ballmer’s newly formed CAPSS LLC reached an agreement with The Madison Square Garden Company to purchase The Forum in Inglewood, Calif., for $400 million in cash. The deal brings to an end the years of litigation between the sides over the Clippers’ plans for a new arena in the area. There have been three lawsuits surrounding the issue, including one addressing the city’s agreement to not promote The Forum’s competition, and another in which Knicks owner and MSG CEO James Dolan accused the city of Inglewood of doing an under-the-table deal with Ballmer. According to a news release issued by the Clippers on Tuesday, The Forum will remain a music-only venue, even after the team’s new home arena is complete.
