L.A. Clippers owner Steve Ballmer, through the recently formed CAPSS LLC, has completed the purchase of The Forum in Inglewood, California, from Madison Square Garden Entertainment Corp.
The Forum will operate as a live event venue operated by the newly-created Forum Entertainment LLC. The arena will retain its current leadership staff of vp concert bookings Geni Lincoln and vp operations Mike Fallon. Lincoln and Fallon will report to Clippers president of business operations Gillian Zucker.
“We are excited to welcome The Forum to our family. The talented team at The Forum has created a world-class live entertainment venue, and we are committed to building upon that reputation,” said Zucker in a release. “Having The Forum just a short distance from the L.A. Clippers’ new arena will give us the opportunity to provide the City of Inglewood with a number of benefits, including a collaborative approach to managing traffic and community activities.”
Forum Entertainment is also expected to retain the remainder of the venue’s California-based staff.
The Clippers’ plans for a new privately financed NBA arena in Inglewood near The Forum continue to move forward, with public hearings slated to begin this summer. The state-of-the-art, 18,000-seat basketball arena and The Forum will be under the same ownership which, according to Forum Entertainment, will allow for coordinated programming between the two venues, improving traffic congestion around basketball games and concerts.
CAPSS announced on March 24 that it had reached an agreement with the Madison Square Garden Company to purchase The Forum arena in Inglewood, California, for $400 million in cash.