Published: Wed, March 25, 2020
Sport | By Kayla Schwartz

Knicks, MSG release statement on sale of Forum to Clippers

Knicks, MSG release statement on sale of Forum to Clippers

Ballmer, the former Microsoft executive, and Clippers vice chairman Dennis Wong are making the cash purchase through a newly formed corporation that will continue to operate the Forum as a live music venue.

The deal clears a major obstacle in the Clippers' mission to construct a new arena in Inglewood, which Ballmer has pushed for since purchasing the franchise for $2 billion in 2014.

Clippers owner Steve Ballmer said Tuesday he'd reached an agreement to purchase the iconic Los Angeles Forum, eliminating a hurdle in his plan to build a new arena for his National Basketball Association team nearby. Madison Square Garden was part of multiple lawsuits to try to block the arena project, and ESPN reported this month that one lawsuit that remained active - by the community group IRATE (Inglewood Residents Against Takings and Evictions) - had been funded in part by MSG.

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

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The Clippers, meanwhile, have always been trying to step out of the shadows of its crosstown rivals Los Angeles Lakers ever since Ballmer purchased the team in 2014.

The Clippers said the purchase of the Forum will be made through a new entity, CAPSS LLC, and is expected to close during the 2020 second quarter.

MSG revitalized the once-Fabulous Forum, which had fallen into disuse after the Lakers and Kings left for Staples Center in 1999.

Perhaps the sale of The Forum will kickstart the Knicks' plans to pay MSG staff during the NBA's coronavirus shutdown. The building was famously home to the glitzy "Showtime" Lakers, who won five championships and reached eight NBA Finals during the 1980s.

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