It appears a new stadium is headed to Los Angeles.
The Los Angeles Clippers have been looking for their own home, a plan that became a possibility after Clippers owner Steve Ballmer reached a deal to buy The Forum.
According to the Los Angeles Times, Ballmer purchased the arena in Inglewood for $400 million — in cash — from The Madison Square Garden Company. The Clippers, who announced the deal Tuesday, plan to build a nearby basketball arena while continuing to use The Forum as a concert venue.
“We are looking forward to putting the legal issues behind us,” the Clippers’ statement said, referring to The Madison Square Garden Company’s earlier efforts to block them from building in Inglewood. “This will allow us to focus on delivering world-class experiences for music and fans and building a new arena that will provide a unique environment and a true home court advantage for Clippers fans.”
According to the Times, the arena would be constructed on West Century Boulevard, less than two miles from The Forum, which opened in 1967 and was the home of the Los Angeles Lakers and Kings before the Lakers, Kings and Clippers started sharing the Staples Center in 1999.
Ballmer, who created CAPSS LLC for the purchase, will take over the Forum this summer. The eventual plan is to build the Inglewood Basketball and Entertainment Complex, which will include an NBA arena, team offices, a practice facility and public spaces. The goal is to be up and running by the 2024-25 NBA season, as the Clippers’ Staples Center lease ends in 2024.
James Dolan, the owner of the New York Knicks, is the executive chairman of The Madison Square Garden Company.
“This is the best resolution for all parties involved and we wish the new owners every success,” MSG said in a statement.