Los Angeles Clippers

Los Angeles Clippers owner Steve Ballmer buys the Forum in $400 million deal

The Los Angeles Clippers have a new home!

Owner Steve Ballmer, through his company CAPSS LLC, has reached an agreement with Madison Square Garden Co. to purchase The Forum in Inglewood, California in a deal worth $400 million, the team announced.

Ballmer has been pursuing a new arena for the Clippers since he purchased the team for $2 billion in 2014, moving away from the downtown STAPLES Center, where they've played since 1999, alongside the Los Angeles Lakers and the NHL's Los Angeles Kings.

"This is an unprecedented time, but we believe in our collective future," 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."

Ballmer is looking to move the Clippers out of STAPLES Center when their lease expires in 2024, with the new privately-funded facility set to house an 8,000 seat arena, the team headquarters complex and community centre.

The Forum was the previous home of the Los Angeles Lakers, who played their games there between 1967-1999, winning five of their 16 championships there, before moving to STAPLES Center.

MSG purchased The Forum for $23.5 million in 2012.

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