Los Angeles Clippers owner Steve Ballmer has reached an agreement with MSG to buy The Forum for $400 million in cash, the team announced Tuesday.
The news was first reported by the Los Angeles Times' Andrew Greif.
The deal completes a major hurdle in the Clippers' effort to construct a new arena in Ingelwood, Calif., something Ballmer has pushed for since he purchased the team for $2 billion in 2014.
“This is an unprecedented time, but we believe in our collective future,” Ballmer said in a statement. “We are committed to our investment in the City of Inglewood, which will be good for the community, the Clippers, and our fans.