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Steve Ballmer pays $400M to buy the Forum for Clippers, closing door on possible move to Seattle

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Steve Ballmer pays $400M to buy the Forum for Clippers, closing door on possible move to Seattle

The Forum in Los Angeles. (GeekWire Photo / Kevin Lisota)

Los Angeles Clippers chairman Steve Ballmer is paying $400 million in money to purchase the Forum enviornment from the Madison Square Garden Company, the LA Times reported Tuesday.

The deal permits Ballmer, the previous Microsoft CEO who paid $2 billion to purchase the Clippers in 2014, to maneuver ahead with plans to construct a brand new enviornment for the NBA franchise.

Ballmer fashioned a brand new firm with Clippers vice chairman Dennis Wong referred to as CAPSS LLC to make the acquisition, which ends a protracted authorized battle with MSG. It will enable the Clippers to play in their very own constructing, moderately than sharing with the Los Angeles Lakers on the Staples Center. There aren’t any plans to tear down the Forum, the LA Times reported.

“This is an unprecedented time, however we imagine in our collective future,” Ballmer stated in an announcement. “We are dedicated to our funding within the City of Inglewood, which shall be good for the neighborhood, the Clippers, and our followers.”

For these holding out hope that Ballmer would transfer the Clippers to Seattle — sorry.

That ought to finish – as soon as and for all – the hypothesis that Ballmer would transfer the Clippers to Seattle.

— Chris Daniels (@ChrisDaniels5) March 24, 2020

Ballmer is presently ranked No. 9 on Forbes’ richest-person listing with a web value of $51.four billion.

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