The Clippers bought the Forum today for $400 million cash. The sale paves the way for the Clippers to build a new arena 2 miles away in Inglewood. Why is this such a big move? AndrewGreif and ArashMarkazi break it down with mrmarkpotts
’ billionaire owner to construct a second in the location — the building he has wanted all along.
The deal is expected to close during the 2020 second quarter. The new ownership group has no plans to tear down the Forum, which was added to the National Register of Historic Places in 2014, and will keep it operating as a concert venue. MSG was part of three lawsuits to block the arena project and accused Inglewood’s mayor, James T. Butts, of persuading the company to give up land for a supposed technology park that later became part of the Clippers’ arena project. A community group whose legal fees are being paid by MSG also has one pending suit and another it is appealing. Murphy’s Bowl LLC, the Clippers-controlled company developing the new arena, countersued MSG last year.
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