Market Overview

Pistons Still Up For Sale As Tom Gores Leaves Detroit

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While many were anticipating a major announcement this week regarding the sale of the Detroit Pistons, it seems as if we are still going to have to wait for an answer.

Tom Gores is back in Los Angeles this weekend, reportedly for a commitment with his kids. According to the Detroit Free Press, there has been no official word from the Pistons regarding the potential new owner of the franchise.

Late Thursday, the Free Press reported that a tentative deal had been struck with Karen Davidson, the current owner of the team. If the deal – which includes not only the Detroit Pistons but the Palace of Auburn Hills and the DTE Energy Music Theatre – comes to fruition, the buyer could pay as much as $420 million (the expected combined value of the team and the two properties).

Weighing in on the sale of the Pistons, Ben Wallace said that Davidson has been honest with the players. “I'm pretty sure she loves us,” he said. “She loves our families and everything. She's been honest with us.

“This is something she's not as passionate about as her husband was, and we can respect that. We just hope that if we do have new ownership that ... (they're) excited about Pistons basketball.”

Posted-In: Detroit Free Press Detroit Pistons DTE Energy Music Theatre Karen Davidson Palace of Auburn HillsNews Movers & Shakers General

 

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