Balmer Completes $400 Million Purchase of The Forum in Inglewood
The Los Angeles Clippers will soon have a new home.
Earlier today, it was reported that CAPSS LLC has completed the purchase of The Forum in Inglewood, California from the James Dolan owned Madison Square Garden Entertainment Corp. The Forum will host a slew of live events under its existing leadership, while the Clippers will look to build a new arena right beside it.
“We are excited to welcome The Forum to our family. The talented team at The Forum has created a world-class live entertainment venue, and we are committed to building upon that reputation,” said Gillian Zucker, the Clippers President of Business Operations. “Having The Forum just a short distance from the L.A. Clippers’ new arena will give us the opportunity to provide the City of Inglewood with a number of benefits, including a collaborative approach to managing traffic and community activities.”
All current Clippers employees are expected to move into the new Clippers arena together once it is built.
“This is an unprecedented time, but we believe in our collective future,” Clippers owner Steve Ballmer said. “We are committed to our investment in the City of Inglewood, which will be good for the community, the Clippers, and our fans.”
Balmer paid $400 million in cash to complete the purchase.