(Above) The Forum in Inglewood, Calif.; (Left) Melissa Ormond, president, MSG Entertainment

Madison Square Garden has finalized its purchase of The Forum in Inglewood, Calif., securing a foothold on the West Coast and launching a new rivalry with AEG and Staples Center, just 10 miles away in downtown Los Angeles.

MSG paid owner Faithful Central Bible Church $23.5 million for the arena and has announced plans for an additional $50 million in renovations. Inglewood city leaders hop...

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