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L.A. Clippers Owner to Buy the Forum in $400 Million Deal

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variety.com
variety.comvariety.com:

The Clippers organization has reached an agreement to purchase The Forum in Inglewood, Calif. from The Madison Square Garden Company for $400 million cash.

The iconic venue will continue to host concerts while plans for a “fan-focused community project” that includes a NBA arena and team headquarters, also move forward.

The new NBA project, which is privately financed, will house an 18,000-seat basketball arena (comparable to the Forum’s seating capacity) and be located on West Century Boulevard between South Prairie Avenue and South Yukon Avenue.

The creation of a new entity, CAPSS LLC, was spearheaded by L.A. Clippers chairman Steve Ballmer and vice chairman Dennis Wong.

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