The Los Angeles Clippers will soon have their own arena following Steve Ballmer's $400 million acquisition of the Forum in Inglewood, California from the Madison Square Garden Company on Tuesday. The MSG Company, an American sports and entertainment holding company, is founded by New York Knicks owner James Dolan.

Per Marc Stein, the MSG Company addressed the sale shortly after it was made public.

 “This is the best resolution for all parties involved and we wish the new owners every success,” the group said in a statement.

The Clippers, meanwhile, have long been trying to step out of the shadows of its crosstown rivals Los Angeles Lakers ever since Ballmer purchased the team in 2014. Having their own arena and not having to share the Staples Center with the Purple and Gold is indeed a step in the right direction.

The MSG Group, on the other hand, has taken extreme measures to make sure the Forum is the only arena in Inglewood. The company filed a lawsuit against the city of Inglewood in 2018 after reports that they were seeking to build a new basketball arena for the Clippers.

The Clippers management countersued the MSG Company, claiming they were simply trying to prevent competition from a new arena by trying to stop its construction. It appears that both parties have now come to terms.

The company has two divisions, mainly its sports and entertainment wings. MSG Sports currently manages the Knicks, it's G-League affiliate in Westchester, the New York Rangers of the NHL, and their AHL affiliate Hartford Wolf Pack.

MSG Entertainment controls live events at Madison Square Garden, which includes The Theater at Madison Square Garden and the Garden itself.