After a testy legal battle, the Madison Square Garden Company is reportedly selling The Forum to the Los Angeles Clippers.
According to Marc Stein of the New York Times, the Madison Square Garden Company has sold The Forum in Inglewood, CA to Steve Ballmer and the Los Angeles Clippers. Balmer is sending MSG owner James Dolan $400 million in cash in the deal.
“This is an unprecedented time, but we believe in our collective future,” said Ballmer via CBS 2 Los Angeles. “We are committed to our investment in the City of Inglewood, which will be good for the community, the Clippers, and our fans.”
“The Forum will continue to operate as a music venue, while plans for the construction of the Clippers’ privately-financed, fan-focused NBA arena, team headquarters and transformative community project move forward,” the Clippers said in a statement.
This is a major move for both the Clippers and New York Knicks owner James Dolan. The deal likely ends an ongoing legal battle between the two. Ballmer planned to build an arena for the Clippers in Inglewood, but MSG argued that the new stadium would compete with The Forum for concerts.
The Clips plan to move out of Staples Center by 2024.
Perhaps the sale of The Forum will kickstart the Knicks’ plans to pay MSG staff during the NBA’s coronavirus shutdown. Early reports indicated that Dolan was working on a long-term plan to pay workers.
However, according to Stefan Bondy of the New York Daily News, MSG still hasn’t committed to paying concessions and cleaning staff for the duration of the shutdown.
As sports remain on hiatus, the business side of the game continues to be a major story.