Los Angeles Clippers Steve Ballmer has announced that he's finalized a deal MSG to purchase The Forum in Los Angeles.
After a lengthy battle, the CEO of the Los Angeles Clippers has announced that he's finally bought The Forum in Los Angeles. According to CNBC, Ballmer has come to an agreement with Madison Square Garden Company, through CAPSS LLC., to purchase the complex for a cool $400M cash. This also settles Ballmer's legal spat with MSG, a company led by Knicks owner James Dolan, who attempted to block Ballmer from opening a new arena for the Clippers near The Forum.
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"This is an unprecedented time, but we believe in our collective future,” said Ballmer. “We are committed to our investment in the City of Inglewood, which will be good for the community, the Clippers, and our fans.”
The venue will still act as a live-music venue in the area with the current employees having offers of employment by Ballmer and CAPSS LLC. However, the Clippers will be moving away from their home at the Staples Center that they've shared with the Lakers since 1999. The head developer of the forthcoming Clippers arena, Chris Meany of Wilson Meany, did acknowledge the possible headaches it will cause residents in the area but he said that they'll be putting forth a concerted effort to reduce traffic congestion around basketball games and concerts.
"We know traffic is something that many Inglewood residents worry about. While we have gone to great lengths to provide an unprecedented traffic-management plan for the new basketball arena, this acquisition provides a much greater ability to coordinate and avoid scheduling events at the same time at both venues,” he said.