Steve Ballmer reaches agreement to purchase The Forum

The legal war between Steve Ballmer and MSG has come to an end, as the Clippers governor has officially settled on terms to buy The Forum. Ballmer’s newly-created company CAPSS LLC will purchase The Forum for $400 million cash, per a release from the Clippers.

LA Clippers Media Information

Ballmer and The Madison Square Garden Company, the owners of The Forum, had been embroiled in a battle over the Clippers’ prospective new arena, to be built across the street from The Forum in Inglewood, CA. Given that the two buildings would theoretically be in competition with one another over public events, MSG raised a grievance about the Clippers’ project. After months of legal disputes, it was reported at the beginning of March that Ballmer was in advanced negotiations to buy The Forum to settle the matter.

According to the report, The Forum will still be used as a concert venue for live music. With The Forum and the Clippers’ proposed arena under the same ownership, the two buildings can coordinate events to minimize traffic in the area. This presumably clears any hurdles the Clippers may have towards building their new arena, which is scheduled to open once the team’s current lease at Staples Center ends in 2024.

This story will be updated with more information as it becomes available.