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Report: Tom Gores has deal to buy Detroit Pistons

Posted on: February 10, 2011 10:18 pm
Edited on: February 11, 2011 12:27 am
 
Detroit Pistons owner Karen Davidson has reportedly agreed to sell the team to Tom Gores. Posted by Ben Golliver.

UPDATE 12:25 a.m. EST: The Detroit News disputes the report that a deal is done. It confirms that "exclusive" negotiations are under way and a deal is close, but that bargaining continues regarding the price. 


The Detroit Pistons have been in limbo all season long, a team with a divided locker room, a coach the players don't respect and ownership uncertainty that has crippled the organization's ability to make personnel moves.

Finally, after months on the market, it appears the Pistons may have finally found a buyer. The Detroit Free Press reports that Pistons owner Karen Davidson may have struck a deal to sell the team to Tom Gores.
Los Angeles financier Tom Gores has struck a tentative deal to buy the Detroit Pistons from primary owner Karen Davidson, a person familiar with the situation told the Free Press. The sale, which must be approved by the NBA, may be announced Friday.
The agreement, valued at $420 million, was reached this evening, after several days of intense bargaining over details.
Gores, 46, is founder and chairman of Platinum Equity, a private equity investment firm that owns more than 30 companies in a range of industries, from industrial fasteners to recreational boats and a San Diego newspaper. Gores was raised in the Flint area and is a graduate of Michigan State University.

With the trade deadline just weeks away, it's unclear if the agreement has been reached in time to impact Pistons president Joe Dumars' ability to execute a trade. Regardless, this is welcome news to Pistons fans, who have suffered through a terrible season on the court and a dramatic, dysfunctional season off the court.

As of Thursday, the Pistons are 20-33 on the season and in fourth place in the Central Division.

Comments

Since: Aug 29, 2007
Posted on: April 26, 2011 5:31 pm
 

Report: Tom Gores has deal to buy Detroit Pistons

Really Maimivice?! If im making a dumb comment why would I need to reaserch it???
The fact is the guy got a degree from western michigan and another one from mich st. Big Deal!
His entire equity firm is in L.A. (only 4 hours to Vegas and thats be car, he'll be there in an hour on his jet) His whole family
is in cali. Vegas has been dying for a pro franchise for years! they have the money to build a new stadium
(and probably would for him!) The clincher is that all the other holdings he got in the sale
DON'T need the pistons to turn a profit!!! (the palace of auburn hills is like the 10th busiest arena, and it drops to like
the 19th without the pistons) He Also Gets What ever Pine Knob Music Theatre is called now, and thats like the 27th busiest
and a damn ski mountian in the winter!!! so do we really want to talk about facts! Cause I was really just kinda f'in around,
But we can twist facts all over the place all the time to start rumers!
later!



Since: Aug 19, 2006
Posted on: February 12, 2011 3:56 am
 

Report: Tom Gores has deal to buy Detroit Pistons

Gold digger???  Isn't she like a trillion years old?



Since: May 24, 2009
Posted on: February 11, 2011 2:06 pm
 

Report: Tom Gores has deal to buy Detroit Pistons

FYI, the Detroit Pistons had been planning their team pay role to set themselves up for the possibility of signing Wade, Bosh or James.
They did clear Billups salary in order to be a player in the free agent market.
The problem is that their owner of over a quarter century DIED and left the team to his awful, greedy wife.
Mr. Davison cared deeply for his beloved team, his wife Karen not so much.
Hope you understand that they could not be a player in the free agent market when the new "owner" just wanted some extra shopping money. A gold digger who hit the mother lode.  


miamivice82
Since: Jan 25, 2008
Posted on: February 11, 2011 12:31 pm
This comment has been removed.

Post Deleted by Administrator



miamivice82
Since: Jan 25, 2008
Posted on: February 11, 2011 12:28 pm
This comment has been removed.

Post Deleted by Administrator




Since: Aug 19, 2006
Posted on: February 11, 2011 12:01 pm
 

Report: Tom Gores has deal to buy Detroit Pistons

Kevin Garnett:  126 mil, Tim Duncan 122 mil, hell, even Rashard Lewis signed for 126 mil; that makes that 420 mil asking price for the entire pistons organization seem like a steal!




Since: Aug 29, 2007
Posted on: February 11, 2011 11:56 am
 

Report: Tom Gores has deal to buy Detroit Pistons

They will move to vegas by next season! mark it down!



Since: Dec 27, 2010
Posted on: February 11, 2011 9:08 am
 

Report: Tom Gores has deal to buy Detroit Pistons

As a TRUE Detroiter, I'm not gonna knock Joe D....he did very well for a period of time there, and I'm confident that all of his moves were done with the intention of making the Pistons a better team....unfortunately, we don't all bat 1000....

whatever happens, I'm just glad that we actually have a team to root for and that we won't have to worry about the Stons moving to Seattle or anywhere outside of SE MICHIGAN....

We will be competitive again someday soon, and our cheerleaders make it worth the price of admission in the meantime....


that Darko draft pick though.....ughhhhhhh




Since: Aug 20, 2008
Posted on: February 11, 2011 8:15 am
 

Report: Tom Gores has deal to buy Detroit Pistons

Looks like Gores is adept at buying things with other peoples money. 



Your all good!  That has become known as the "Detroit Way"!



If he was really smart, his first day on the job, should include firing Fat Joe D.


He depleted your roster last season to make room for one of the high end free agents, and blew it, flat out swing and miss at a ball in the dirt.


He killed Detroit basketball.....just sayin'



Since: Aug 24, 2010
Posted on: February 11, 2011 12:43 am
 

Report: Tom Gores has deal to buy Detroit Pistons

Looks like Gores is adept at buying things with other peoples money. 


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