Clippers Owner Steve Ballmer Reaches Agreement To Buy The Forum From MSG Company for $400 Million

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Los Angeles Clippers owner Steve Ballmer had reached an agreement to buy the Forum Arena for $400 million from the Madison Square Garden Company. The deal allows Ballmer to build a new arena solely for the Clippers in Inglewood, California, an effort Ballmer has pushed since purchasing the franchise for $2 billion in 2014. Any speculation that the team would move to Seattle was to put to rest, as “The Clippers continue to pursue plans to build a state-of-the-art, 18,000-seat basketball arena and are currently working with the city to successfully complete the comprehensive Environmental Impact Report," the team told ESPN in a statement. The Forum will continue to operate as a music venue until a new Clippers arena is finished, per the official release.