Clippers owner Steve Ballmer’s newly-formed Capps LLC reached an agreement with the Madison Square Garden company to purchase the Forum for $400 million, ending three lawsuits by MSG in relation to the new proposed arena.
The Forum will remain open as a concert venue.
The Clippers say the new arena will create an estimated 7,500 high-paying construction jobs and 1,500 permanent jobs once the complex is open.
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