The historic Forum arena in Inglewood will now belong to the Clippers, the Los Angeles Times reports. Team owner Steve Ballmer and his team have offered $400 million in cash to buy it outright from Madison Square Garden Co., which has owned the facility since 2012.
Madison Square Garden Co. had been embroiled in litigation with the Clippers over plans to build a new, privately funded arena for the NBA team to play elsewhere in Inglewood. As part of the purchase deal, that litigation will be dropped.
Under the new ownership, the Forum will continue to host concerts and live events. All current staff are expected to be offered the opportunity to continue to perform their jobs once facilities reopen after the current pandemic wanes.
“This is an unprecedented time, but we believe in our collective future,” Ballmer told the Times. “We are committed to our investment in the City of Inglewood, which will be good for the community, the Clippers, and our fans.”
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