Los Angeles Clippers owner Steve Ballmer is buying the Forum from the Madison Square Garden Company for $400 million in cash.
The deal clears the way for the billionaire to build a new arena down the street in Inglewood, California. Ballmer has been fighting with MSG over his desire to build a state-of-the-art home for the Clippers just a few blocks away from the Forum.
The purchase abruptly wraps up the litigation fight and allows the Clippers to move ahead on their goal to open a new arena when their Staples Center lease expires in 2024.
