Knicks, MSG release statement on sale of Forum to Clippers

Jack Kent Cooke outside the under-construction Forum in 1967.			Harold Filan  AP  Shutterstock

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. 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.

League sources told the Los Angeles Times and ESPN that the agreement will resolve existing litigation brought by MSG surrounding plans for the Clippers' new National Basketball Association arena, clearing the way for a new state-of-the-art, 18,000-seat home for Ballmer's team.

The purchase of the Forum remains subject to closing conditions but is expected to close during the second calendar quarter of 2020. The two arenas would be separated only by the lavish SoFi Stadium complex being built by Los Angeles Rams owner Stan Kroenke.

Dolan had accused the city of Inglewood of violating agreements between them and MSG relating to a new arena and land that was sold to Ballmer but never offered to Dolan's company.


Los Angeles Clippers owner Steve Ballmer has a brand-new asset, albeit one that's been around for almost half a century.

The Forum and the arena will fall under the same ownership and allow for "coordinated programming" between the venues, according to a release.

MSG revitalized the once-Fabulous Forum, which had fallen into disuse after the Lakers and Kings left for Staples Center in 1999. Kobe Bryant began his 20-year Lakers career in the arena.

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