Sells The Forum to Clippers

Sells The Forum to Clippers

Sells The Forum to Clippers

The deal to acquire the Forum, the Clippers said, is expected to close by the end of June while "simultaneously resolving litigation surrounding plans for the new National Basketball Association arena".

MSG, which bought the Forum for a reported $23.5 million in 2012, has sued the Inglewood city government, California Gov. Gavin Newsom and the state Legislature in its various attempts to slow the approval process for Ballmer's privately financed arena project, which is now undergoing environmental review.

"This is an unprecedented time, but we believe in our collective future", said Ballmer via CBS 2 Los Angeles.

The Los Angeles Clippers will soon have their own arena following Steve Ballmer's $400 million acquisition of the Forum in Inglewood, California from the Madison Square Garden Company on Tuesday. Madison Square Garden was part of multiple lawsuits to try to block the arena project, and ESPN reported this month that one lawsuit that remained active - by the community group IRATE (Inglewood Residents Against Takings and Evictions) - had been funded in part by MSG.

MSG purchased The Forum for $23.5 million in 2012.

Ballmer wants to build a $1.2 billion arena on 28 acres of land just south of the SoFi Stadium complex.

This agreement should mark the end of a legal battle between MSG and the Clippers over the building of a new arena in close proximity to The Forum.

The Fabulous Forum was home for the Lakers from 1967 through 1999, when the team moved to the newly-built Staples Center in downtown Los Angeles.

Perhaps the sale of The Forum will kickstart the Knicks' plans to pay MSG staff during the NBA's coronavirus shutdown.

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