Mega Church: Faithful Central Sells the Forum to Madison Square Garden

The transaction began with Forum Enterprises, a for-profit arm of Faithful Central Bible Church, which paid $22 million to buy the Forum in 2000, intending to use it as a new home for its services and to build a family entertainment center that would generate jobs in an underserved area of Los Angeles.

Madison Square Garden has stepped up as a buyer and is paying $23.5 million to the Faithful Central Bible Church. As part of the agreement, MSG will have to put $50 million toward a renovation and the company (which also owns Radio City Music Hall and the Beacon Theatre) intends to turn the arena into “a top-flight concert hall,” reports the LA Times. They’ll release plans for the makeover in the fall, but it sounds like South Park’s Staples Center is already feeling a little defensive about its new competition.

Let’s keep Faithful Central in our prayers, as they transition we can rest assured they will continue to do the will of the Lord.

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