The Los Angeles Clippers officially announced the purchase of The Forum from Madison Square Garden Entertainment Corp. for $400 million, which clears the way for the team to move forward with building their new arena in Inglewood.
Ballmer’s CAPSS LLC completed the purchase of the L.A. Lakers’ former home, and a newly-formed Forum Entertainment LLC will operate the arena as a live music venue with the existing leadership team remaining in place.
“We are excited to welcome The Forum to our family,” Clippers president of business operations Gillian Zucker said in a released statement. “The talented team at The Forum has created a world-class live entertainment venue, and we are committed to building upon that reputation.