Los Angeles Clippers Owner Buys The Forum In Pick & Roll Toward Building New Arena
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deadline.comBy Erik Pedersen Managing Editor Los Angeles Clippers owner Steve Ballmer has a brand-new asset, albeit one that’s been around for nearly half a century.
The former Microsoft CEO has agreed to pay $400 million to purchase the Forum in Inglewood from MSG. The deal clears a big hurdle in Ballmer’s plans to build a new arena just blocks away for his NBA team, which has shared Staples Center with the Lakers since the building opened in 1999. “This is an unprecedented time, but we believe in our collective future,” Ballmer said in a statement. “We are committed to our investment in the city of Inglewood, which will be good for the community, the Clippers and our fans.” The all-cash purchase, made through the new CAPSS LLC, is set to close in
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