LOS ANGELES -- LA Clippers owner Steve Ballmer has reached an agreement to purchase the Forum in Inglewood, California, clearing the biggest obstacle in the franchise's way of building a new arena in the area.

The Clippers announced that the newly formed CAPSS LLC reached the agreement with The Madison Square Garden Company, which owned the Forum, to purchase the music venue for $400 million in cash.

This clears existing litigation that was standing in the way of Ballmer building a new state-of-the-art, 18,000-seat home for his team, according to the Clippers. The resolution of outstanding litigation was a condition of the sale, league sources said.

The Forum will remain as a music venue.
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