OT: Tom Gores to acquire Pistons

[Fugu]

I guess this ends the speculation about moving the Wings to the Palace, or the Pistons to a shared arena (at least for now).

http://www.prnewswire.com/news-rele...d-palace-sports--entertainment-119505344.html

From Ilitch:

DETROIT, April 8, 2011 /PRNewswire/ -- "I would like to congratulate Tom Gores on the announcement of his agreement to purchase the Detroit Pistons and Palace Sports & Entertainment and the Davidson family on the pending sale of their businesses. We are very pleased that the Pistons will continue to call the Detroit area home.

Gores was raised in Michigan after his family immigrated to the US when he was 6-7 yrs old, iirc.

He studied finance at Michigan State University, and went on to make a couple billion dollars. Eli Broad is another MSU billionaire (Accounting), who lately has been giving money away left, right and center mostly to the arts and philanthropy. The business school at MSU is called... Broad School of Business.

Click to read more...

 

[Brodie]

There's no guarantee Gores wouldn't be interested in a deal with Ilitch to build a new arena... one has to be built in the short term anyway, it might be to their benefit to jointly operate the place instead of competing.

 

[Fugu]

There's no guarantee Gores wouldn't be interested in a deal with Ilitch to build a new arena... one has to be built in the short term anyway, it might be to their benefit to jointly operate the place instead of competing.

True. I don't think I've heard any comments from Gores wrt to arenae and if he'd be interested in cooperating. Does seem like the two are on good terms though.

 

[Melrose Munch]

I guess when Mikey dies the Wings will go to auburn Hills?

 

[Brodie]

You'd guess wrong.

 

[Motown Beatdown]

True. I don't think I've heard any comments from Gores wrt to arenae and if he'd be interested in cooperating. Does seem like the two are on good terms though.

http://sports.espn.go.com/nba/news/story?id=6309235

The Pistons play in suburban Auburn Hills, in Oakland County. County Executive L. Brooks Patterson said it's a sale with "many complex parts," referring to the team, The Palace and other entertainment venues.

"I wasn't surprised to see long negotiations," he said. "I am delighted with Gores' ownership. He's made it clear he's keeping the team in Auburn Hills in Oakland County, and there's no question where my loyalties are."

That's all i could find regarding the arena. It will be interesting to see what Mr I does now

 

[Fugu]

I guess when Mikey dies the Wings will go to auburn Hills?

What Brodie means is that Wings will no doubt be kept in the family. Son Christopher Ilitch is very involved with the sports side of the business.

http://sports.espn.go.com/nba/news/story?id=6309235



That's all i could find regarding the arena. It will be interesting to see what Mr I does now

Well, seeing there is no other arena option at the moment, of course Gores will keep the team in the Palace. I imagine even if things got started this year, we're 2-3 yrs out before a new arena would be completed?