Steve Ballmer, Clippers Purchase The Forum for $400 Million

Steve Ballmer and the L.A. Clippers have purchased The Forum for $400 million, clearing the way for the team to build an all-new arena in Inglewood.

In a historic move, L.A. Clippers Chairman Steve Ballmer is purchasing The Forum from the Madison Square Garden Company for $400 million in cash — paving the way for the franchise to build its very own, dedicated basketball arena in Inglewood.

The Forum will continue to operate as a concert venue, and the Clippers will now be able to coordinate programming between it and the planned Inglewood arena to better improve traffic congestion around basketball games and concerts.

"This is an unprecedented time, but we believe in our collective future," Ballmer said, per a press release. "We are committed to our investment in the City of Inglewood, which will be good for the community, the Clippers, and our fans."

L.A.'s new arena, which is planned to open in 2024, will seat 18,000, house the team's headquarters and a community center.

On top of that, the Clippers will finally have a state-of-the-art facility separate from the Los Angeles Lakers (as well as the Los Angeles Sparks and Los Angeles Kings, who also play home games in the building) — meaning L.A. will have a true home-court advantage for the first time since moving into the Staples Center in 1999.

With a move on the horizon and an NBA title in the team's sights, there's never been a better time to be a fan of the L.A. Clippers. It won't be long until Clippers fans will have a dedicated space to support their team, and being able to fill it with a few banners would be the perfect way to begin the franchise's next chapter in Inglewood.