The Inglewood Forum — once home to the 1980s Showtime-era Lakers — is now owned by the Los Angeles Clippers. In a deal announced Tuesday, Clippers owner Steve Ballmer said that he had reached an agreement with The Madison Square Garden Company to buy the Forum for $400 million in cash.To execute the transaction, Ballmer created a new entity called CAPSS LLC.
According to a news release, the Forum will continue to operate as a live-music venue andall current Forum employees are being offered employment offers by the Clippers.
Most importantly for Ballmer, Tuesday’s dealresolves litigation brought byThe Madison Square Garden Company tohalt the Clippers’ proposed privately funded, billion-dollar new arena along West Century Boulevard.That.
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