Clippers, Steve Ballmer reaches an agreement to purchase The Forum in Inglewood

Clippers' Steve Ballmer reaches deal to buy the Forum for $400M in cash

Los Angeles Clippers owner Steve Ballmer has reached an agreement to purchase the Forum in Inglewood, California.

So he gets around the biggest obstacle in the franchise’s way of building a new arena in the area.

The Clippers announced that the newly formed CAPSS LLC reached the agreement with The Madison Square Garden Company, which owned the Forum, to purchase the music venue for $400 million in cash.

“This is an unprecedented time, but we believe in our collective future,” Ballmer said in a news release. “We are committed to our investment in the City of Inglewood, which will be good for the community, the Clippers, and our fans.”