The billionaire owner of the Los Angeles Clippers basketball franchise has purchased the Forum arena in Inglewood, California for $400 million as part of a plan to construct a new AECOM-designed basketball megaplex for the team next door to the existing complex.

Plans were unveiled last year for a basketball net-inspired 900,000-square-foot arena that would become the new home for the basketball team. The Forum, designed in 1967 by architects Charles Luckman & Associates, is currently used for a variety of sporting events and concerts. The complex was designed as a modern feat of engineering by architect Charles Luckman and storied engineers Carl Johnson and Svend Nielsen and was the first arena of its size to be built without interior columns.

 The Los Angeles Times reports that the Los Angeles Clippers owner Steven Ballmer paid $400 million in cash to the New York City-based Madison Square Garden Company (Coincidentally, Luckman also designed the Madison Square Garden complex) for the arena. 

The sale, The Los Angeles Times reports, was undertaken in part to prevent the Madison Square Garden Company from continuing to oppose Ballmer’s stadium plans. The company was behind a handful of lawsuits initiated to stop the proposed stadium complex, which is projected to cost upwards of $1 billion.