The legendary Forum in Inglewood, California has been purchased by the Los Angeles Clippers. In a deal announced by Clippers owner Steve Ballmer, the deal comes as a settlement or closure of a lawsuit between the Clippers and the Madison Square Garden Company. Balmer is paying $400 Million for the building.
Ballmer created CAPSS, LLC to execute the deal. According to The Hollywood Reporter, this deal helped resolve the lawsuit between the two parties.
“We are looking forward to putting the legal issues behind us,” Ballmer said in a statement. “This will allow us to focus on delivering world-class experiences for music fans and building a new arena that will provide a unique environment and a true home court advantage for Clippers fans.”