Clippers’ owner buying Forum for $400M
In a deal that ends a long-running legal war with an opponent that had long fought to block construction of a Los Angeles Clippers arena in Inglewood, Calif., team owner Steve Ballmer on Tuesday reached an agreement to purchase the Forum from Madison Square Garden Co. for $400 million in cash, according to terms obtained by the Los Angeles Times.
The purchase is expected to close during the 2020 second quarter. The Forum will continue to operate as a live-music venue.
The deal will also resolve litigation brought by
MSG, whose executive chairman is New York Knicks owner James Dolan, to block the Clippers’ proposed privately funded, billion-dollar arena along West Century Boulevard. Plans call for the arena to be built as part of a larger complex dubbed the Inglewood Basketball and Entertainment Complex.
The newly installed president and chief executive officer of the U.S. Soccer Federation used her first news conference to say that settling a lawsuit filed by women’s national team players is the federation’s top priority. “A lot of damage has been done, and I think we are going to have to rebuild that trust and rebuild the relationship, and it’s not going to happen overnight,” Cindy Parlow Cone said. “It’s going to take a lot of effort and time and energy for the U.S. Soccer side to rebuild that trust.” Players claim they have not been paid equally to the men’s national team and asked for more than $66 million in damages under the Equal Pay Act and the Civil Rights Act of 1964. A trial is scheduled for May 5 in federal court in Los Angeles.
The Carolina Hurricanes agreed to entry-level contracts with brothers David and Jason Cotton. The forwards closed college careers this season.