On Tuesday afternoon, it was reported that The Forum, the former home of the Los Angles Lakers, was purchased by Los Angeles Clippers owner Steve Ballmer.
Breaking: Clippers owner Steve Ballmer has reached an agreement with MSG to purchase the Forum, through a new company, for $400M in cash. Story to come @latimes.
— Andrew Greif (@AndrewGreif) March 24, 2020
The Clippers and Lakers have shared Staples Center since 1999. The purchase by Ballmer appears to be the latest effort to allow the Clippers to establish their own identity in the city of Los Angeles.
The completed deal now paves the way for the Clippers to construct their own arena, dubbed the Inglewood Basketball and Entertainment Center, nearby.
The Forum itself will continue to operate as a live music venue.
Since arriving from San Diego in 1984, the Clippers have been in the Lakers’ shadow.
This season, the two franchises were the first and second winningest teams in the Western Conference prior to the NBA’s suspension of play on March 11.
The Lakers had a five-and-a-half-game lead in the standings on the Clippers prior to the stoppage of games.
The Lakers first played in The Forum, formerly called the Great Western Forum, during the 1967-68 NBA season and remained there for more than three decades.
During that period, the Lakers won the NBA title on six occasions, with the facility twice hosting the NBA All-Star Game.