We are one step closer to a new stadium for the LA Clippers. After months of back and forth and legal mumbo jumbo between Steve Ballmer and The Madison Square Garden Company (owned by James Dolan), Ballmer formed CAPPSS LLC and purchased The Forum in order to clear the way for construction of the new arena.
The press release by the team states the transaction is still pending but should be finalized shortly. The purchase of The Forum will be $400 million in cash. The release notes that this is a huge step in the progress of the Clippers stadium in the City of Inglewood.