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Pistons sale

  1. Sale of Pistons to Tom Gores finally approved

    Jun 1, 2011, 8:47 AM EST

    Tom Gores

    Tom Gores is now finally, officially, the owner of the Detroit Pistons. The terms of the sale had been in place a couple months but details still had to be finalized. They have been now. David Stern announced before Game 1 of the NBA finals the sale of the franchise to Gores and his equity…

  2. Pistons coach Kuester says he will run pre-draft workouts

    May 20, 2011, 2:48 PM EST

    kuesterthumbsup

    Pretty much every talent evaluator, general manager and coach not in the playoffs is in Chicago right now for the NBA’s Draft Combine. Not the Piston’s embattled coach John Kuester. Which seems to speak volumes to his status with the franchise. But Kuester told the Detroit News he will be running individual workouts heading up to…

  3. Pistons sale negotiations stall out, leaving team in limbo

    Apr 1, 2011, 8:30 AM EST

    Image (1) pistons_logo-thumb-250x208-11727.png for post 6294

    This has happened twice now. First the representatives of Pistons owner Karen Davidson — who has tried to sell the team for the past 15 months after the passing of her husband Bill — entered into exclusive negotiations with Mike Ilitch to sell the team. But after he got a closer look at the books…

  4. Tom Gores reaches deal to buy Detroit Pistons

    Feb 11, 2011, 9:41 AM EST

    tom-gores

    Soon, the Detroit Pistons will have a new owner. And with it maybe a direction for the franchise. Billionaire financier Tom Gores has reached a deal to buy the team, according to the Detroit Free Press. The total value of the deal, which includes the team, the Palace of Auburn Hills and DTE Energy Music…

  5. Gores has 30-day window to purchase Pistons

    Jan 8, 2011, 6:58 PM EST

    Image (1) pistons_logo-thumb-250x208-11727.png for post 6294

    We told you yesterday Michigan native and billionaire Tom Gores was now the front runner to purchase the Detroit Pistons. The Associated Press is now reporting he has a 30-day exclusive window to purchase the team. If a deal is worked out, it could be presented to the Board of Governors (the other NBA owners)…

  6. Pistons sale could be complete next week

    Jan 7, 2011, 10:16 AM EST

    Detroit Pistons v New Orleans Hornets

    Tom Gores, a Michigan native worth an estimated $2.2 billion, will complete his purchase of the Detroit Pistons as soon as next week, the Detroit News reports. It may well take longer to complete the deal, but the goal is to have the sale done in time to present it to the NBA Board of…

  7. Pistons sale hits rocks when real revenue numbers get seen

    Dec 16, 2010, 9:48 AM EST

    Image (1) pistons_logo-thumb-250x208-11727.png for post 6294

    Karen Davidson inherited the Detroit Pistons when her husband Bill passed away last year. The Pistons were his passion, not hers, she didn’t want to run a team. So she hired Citi Private Bank Sports Advisory to help her sell the Pistons and the Palace. They found a buyer in Michael Ilitch — who already…

  8. Report: Mike Ilitch close to purchase of Detroit Pistons

    Oct 5, 2010, 11:25 AM EST

    Mike Ilitch, the owner of the Detroit Red Wings and Tigers, is working on the final details to purchase the Detroit Pistons, according to the Associated Press and Crains Detroit Business Journal. Current Pistons owner Karen Davidson (who took control when her husband Bill died) had said she wanted to have the team sold by…

  9. Cavs Dan Gilbert says he would like to see Mike Illitch buy the Pistons

    Sep 20, 2010, 8:32 AM EST

    Cavaliers owner Dan Gilbert is not involved in the sale of the Detroit Pistons, but he still has an opinion about it. In that way, he’s just like the rest of us. Gilbert — a Michigan State grad — told the Detroit Free Press he would like to see Mike Illitch buy the team. Illitch…

  10. Not much change in Pistons sale

    Sep 6, 2010, 12:01 PM EST

    Team sales are not a quick thing, especially when the perceived value and actual value are different. There seems to be little change in what is going on with the Detroit Pistons sale, at least that seems the case after reading the latest update from the Detroit News. There are four groups in the running,…

  11. Michael Ilitch wants own all of Detroit sports, including he Pistons

    Aug 9, 2010, 12:43 PM EST

    Michael Ilitch owns the Detroit Red Wings. He owns the Detroit Tigers. And he wants to own the Detroit Pistons – and move their home base back into the city. He is already building a stadium that the Red Wings will call home (Joe Louis arena has history but old) and he wants the Pistons…

  12. Pistons may sell for well below market value

    Aug 3, 2010, 11:16 AM EST

    Location, location, location. Oh, and timing. Golden State just sold for well above its value as estimated by Forbes, in part because the San Francisco Bay Area is one of the wealthiest areas of the nation. The Detroit Pistons are estimated to be worth $479 million and have turned more than $40 million in profit…

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