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Tag: Clippers arena
Ballmer Has Deal to Buy Forum for $400M in Cash
The Forum has been strictly a music venue since 2014 after a $100M renovation by The Madison Square Garden Co. (Courtesy the Forum) Acquisition would clear way for Clippers’ arena The NBA’s Los Angeles Clippers have reached an agreement to buy the Forum from The Madison Square Garden Co. for $400 million, paving the way for team owner Steve Ballmer to move forward with plans to develop a new arena near the venerable Inglewood venue, it was announced Tuesday. The purchase involves a newly formed entity, CAPSS LLC, and was driven by Ballmer, the Clippers chairman, and Clippers Vice Chairman Dennis Wong, the team announced. “By reaching an agreement with MSG, CAPSS LLC will acquire the Inglewood venue, simultaneously resolving litigation surrounding plans for the new NBA arena,” according to a statement from the Clippers. “As part of the agreement, all of MSG’s current Forum employees will be extended employment… Continue Reading Ballmer Has Deal to Buy Forum for $400M in Cash
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Ballmer in Talks to Buy Forum From MSG
The Forum in Inglewood, Calif., is owned by The Madison Square Garden Co., which made it a music-only venue. Move by Clippers’ owner comes amid legal fight over planned arena Steve Ballmer, owner of the NBA’s Los Angeles Clippers, is in negotiations to buy the Forum from The Madison Square Garden Co., according to a source as well as multiple published reports that surfaced Sunday night and which ESPN.com first broke. The news comes amid a legal battle between MSG and both the city of Inglewood and Ballmer dating to 2018 and stemming from Ballmer’s intention to develop a nearby arena estimated to cost $1 billion. The Clippers issued the following statement: “The Clippers continue to pursue plans to build a state-of-the-art, 18,000-seat basketball arena and entertainment complex in Inglewood and are currently working with the city to successfully complete the comprehensive Environmental Impact Report. We are examining every possible way… Continue Reading Ballmer in Talks to Buy Forum From MSG
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