Los Angeles Clippers Owner Closes Deal To Buy The Forum From MSG – Update
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deadline.comBy Erik Pedersen Managing Editor UDPATED, 2 PM: The Los Angeles Clippers are now official owners of the Forum.
Clippers owner Steve Ballmer closed a deal Monday to purchase the Forum from Madison Square Garden Entertainment Corp. The close of escrow comes six weeks after Ballmer-backed CAPSS LLC announced it had agreed to pay $400 million for the arena.
The deal also settles MSG’s long-running lawsuit that aimed to block the Clippers planned $1 billion arena to be built on Century Boulevard, just blocks from the Forum.
Newly-created Forum Entertainment LLC will operate the Forum as a premier, live event venue with the existing leadership team of Geni Lincoln and Mike Fallon remaining in place, reporting to Gillian Zucker, Clippers
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