Steve Ballmer Officially Completes Purchase of The Forum

After agreeing to purchase The Forum for $400 million in late March, Steve Ballmer and the recently formed CAPSS LLC has officially completed the purchase, the LA Clippers announced today.

Per the team, the newly-created Forum Entertainment LLC will manage the venue, which will continue to host concerts and other live events. Clippers President of Business Operations Gillian Zucker will lead the group.

"Having The Forum just a short distance from the LA 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," Zucker said, per a press release.

The purchase will allow the franchise to build its own stadium in Inglewood, which is planned to open in 2024. The arena will seat 18,000 and house a practice facility, sports medicine clinic, team offices and public basketball courts.

It will be the first time since the 1998-1999 season that LA will have its own arena. Previously, the Clippers played home games at the Los Angeles Memorial Sports Arena and the Los Angeles Lakers played at The Forum until both teams moved into the Staples Center prior to the 1999-2000 season.

With both teams playing top-tier basketball as of late, the need for home-court advantage was a must — though that's certainly not the only reason why the franchise plans to build the new arena. The facility will allow the franchise to operate out of and host games at the same location, and it will serve as a public space as well.

The LA Clippers have become one of the most well-run organizations in the NBA since Ballmer took over in 2014, and it seems as though the best is yet to come.