Clippers buy The Forum in Inglewood from MSG for $400 million
The LA Clippers’ plan to build a new arena in Inglewood is moving forward.
The Clippers announced on Tuesday that they have purchased The Forum in Inglewood, Calif. from Madison Square Garden for $400 million in cash. The deal is expected to close next quarter (some time between April-June).
Some details on the Clippers reaching an agreement with MSG to purchase the Forum through a newly formed CAPSS LLC. They are purchasing the Forum for $400 million in cash pic.twitter.com/l7K6peMTt1
— Mark Medina (@MarkG_Medina) March 24, 2020
As part of the agreement, Clippers owner Steve Ballmer plans to keep The Forum operating as a music venue and extend job offers to those who currently work for The Forum.
Ballmer plans to build a new arena that would be just for the Clippers, compared to the past 21 years where they’ve shared Staples Center in Los Angeles with the Lakers.
The billionaire owner is investing in his team and the local community, doing what he can to make the Clippers a premier brand.
Clippers fans, show everyone who runs Los Angeles with this great “We Run LA” shirt: