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LA Clippers Owner Reaches $400M Deal to Purchase The Forum From MSG
CAPSS LLC, a new company formed by L.A. Clippers chairman Steve Ballmer and vice chairman Dennis Wong, has reached an agreement with the Madison Square Garden Company to purchase The Forum arena in Inglewood, California, for $400 million in cash, it was announced Tuesday (March 24).In addition to the acquisition, the agreement will resolve three separate lawsuits filed by Madison Square Garden Company chairman James Dolan against Ballmer and the City of Inglewood over Ballmer’s plans to build a new 18,000 seat basketball arena for the Clippers less than two miles from The Forum.