Kareem Abdul-Jabbar during the 1982 NBA Finals at The Forum. Photo: Focus on Sport/Getty Images

Los Angeles Clippers owner Steve Ballmer is in advanced talks to purchase The Forum from the Madison Square Garden Company, per multiple reports.

Why it matters: Ballmer's plan to build a $1 billion arena near The Forum triggered multiple lawsuits, including three by MSG, so purchasing The Forum from them would clear a major hurdle in the Clippers' pursuit of a new home.

The backdrop: The Forum was home to the Lakers from 1967 to 1999, an era in which the franchise won six NBA titles and built a modern sports dynasty led by Magic Johnson and Kareem Abdul-Jabbar.

  • Other Laker legends like Jerry West, Wilt Chamberlain, Gail Goodrich, Jamaal Wilkes, Shaquille O'Neal and Kobe Bryant played a few seasons at The Forum, too.

The bottom line: That hallowed Lakers ground could soon be owned by the rival Clippers, who have plans to carve out their own space and build their own image in their big brothers' old backyard.

Go deeper: Los Angeles is now the center of the NBA universe

Go deeper

U.S. economy added 4.8 million jobs in June

Data: Bureau of Labor Statistics; Chart: Axios Visuals

The U.S. economy added 4.8 million jobs last month, while the unemployment rate dropped to 11.1% from 13.3% in May, according to government data released Thursday.

The state of play: While the labor market showed more signs of recovery when the government’s survey period ended in early June, the lag means that more recent developments, like the surge in coronavirus cases and resultant closures in some states, aren't captured in this data.

1.4 million Americans filed for unemployment last week

Photo: Wang Ying/Xinhua via Getty Images

Another 1.4 million Americans filed for unemployment last week, the Department of Labor announced Thursday.

Why it matters: New applications for unemployment remain historically high, suggesting layoffs are still widely prevalent. However, they remain well below the all-time record seen when the coronavirus pandemic first hit.

The crushing budget blow awaiting state and local government workers

Illustration: Eniola Odetunde/Axios

State and local government jobs are being gutted, even as the labor market shows signs of a slight recovery.

Why it matters: The coronavirus pandemic blew a hole in state and local government budgets. A slew of states cut spending and jobs — with more planned layoffs announced this week as states try to balance budgets.