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Blog Entry

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
Patty2
Since: Sep 16, 2010
Posted on: February 11, 2011 12:40 am
This comment has been removed.

Post Deleted by Administrator




Since: Oct 21, 2006
Posted on: February 11, 2011 12:31 am
 

Report: Tom Gores has deal to buy Detroit Pistons

Joe D needs to step down.  yes he may have made some good moves back in the day, but since the last championship team he has made bad decision after bad decision.  They cleared out contracts to land a high profile player like LeBron James and they came up short.  VERY SHORT.

He has been dumping contracts for a few years now and has nothing to show for it but a bunch of losses and decreasing attendance.  I dont know if he really has a clue anymore on how to rebuild this team into a contender.  Their draft pics the last few years have been bad and the constant changes at coach didnt help.  

   



Since: Oct 23, 2006
Posted on: February 10, 2011 10:58 pm
 

Report: Tom Gores has deal to buy Detroit Pistons

GOOD!!  Better him than Ilitch...

Maybe now they can move some of their nine 6'6" - 6'9"
players and get a center and a point guard.

Good luck getting rid of those garbage contracts though...


The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com