LA Clippers owner Steve Ballmer is about to open a new era for his team after securing a deal about buying the Forum in Inglewood. One of the most eccentric and recognized owners in the NBA made a move, which would probably change the entire history of this franchise.
“This is an unprecedented time, but we believe in our collective future,” Ballmer said. “We are committed to our investment in the City of Inglewood, which will be good for the community, the Clippers, and our fans.”
The purchase of the Forum means that the Clippers can finally start building their own arena. Up until this point, the less famous and successful franchise from LA shared Staples Center with the Lakers. It is something Ballmer wanted to stop because it limited the potential for Clippers’ growth.
The legendary Forum was a legal obstacle that stood on Ballmer’s way. The Madison Square Garden Company, which is the landlord of the property, was constantly blocking any attempt the Clippers’ owner had in getting the permit from the local authorities to start with the construction. According to James Dolan, who owns the New York Knicks and the MSG Company, Ballmer’s new arena would be too close to Forum, which would be a violation of previously agreed terms he had with the city.
However, the two struck a deal in the end, and the building will be sold for $400 million, with the note that Ballmer plans to keep the Forum’s current purpose, and that is to be a music venue. The transaction will proceed between Ballmer’s CAPSS LLC and the MSG Company, and it is expected to be executed in the second quarter of the current year.
Regarding the Clippers’ new home, according to the plans known to the public, it is supposed to be an 18,000-seat “state-of-the-art” arena, and something never seen in the NBA before. Right now, the plans are being reviewed by the local authorities in Inglewood, and it is expected that the public hearings regarding the construction take place no later than this summer.
Also, the team has stated that the community can expect a package worth $100 million of benefits, and more than 7,500 jobs during the period of construction. In the end, at least 1,500 people will get permanent jobs at the complex.
Ballmer took over the Clippers in August of 2014. He bought the franchise from a Donald Sterling who was forced to sell it after his racist outbursts became public. The price was $2 billion, and after 33 years, the Clippers got a new owner. Ballmer immediately became active, wanting to make changes inside and outside the organization.
He began transforming the franchise, with the intention to erase the previously obtained reputation of a losing team. Throughout the years, the Clippers were considered the worst franchise in the NBA, but at the moment, they are among the most popular in the world. The ultimate goal is for them to win the title, and became the powerhouse in the next few years. The way things develop at the moment, Ballmer might see his plans work out much sooner than anyone expected.
