The Clippers plan to build a privately-financed arena in Inglewood near The Forum.

INGLEWOOD, Calif. (AP) — Los Angeles Clippers owner Steve Ballmer on Monday completed his purchase of The Forum from Madison Square Garden Entertainment Corp. for $400 million.

Newly created Forum Entertainment LLC will continue operating the building that opened in 1967 as a concert venue. The current management team will remain in place and report to Gillian Zucker, president of business operations for the Clippers.

All of The Forum’s California-based staff are expected to stay on as employees of the new company and help with the transition.

“The talented team at The Forum has created a world-class live entertainment venue, and we are committed to building upon that reputation,” Zucker said in a statement.

The Clippers’ plans for a new, privately financed NBA arena in Inglewood near The Forum are progressing, with public hearings slated to start this summer. The