Clippers owner says he has agreement to buy Los Angeles Forum arena

Clippers owner Steve Ballmer said Tuesday he'd reached an agreement to purchase the iconic Los Angeles Forum, eliminating a hurdle in his plan to build a new arena for his NBA team nearby. Ballmer said the venue in the suburb of Inglewood would be purchased from Madison Square Garden Company by a newly created company called CAPSS LLC, a joint venture of Ballmer and Clippers vice chairman Dennis Wong. The Forum, formerly the home of the Los Angeles Lakers, has been renovated since their move to Staples Center to be used largely as a concert venue and will remain so, Ballmer said.