Pistons in serious talks to build practice facility in Midtown, move into LCA

[401don]

The 384 million dollar figure is of course completely insane. The question, though, is what is the Palace worth, in its location, with no tenant? To me the number might be 50-100 million. At that figure, would Gores [[and Ilitch) sell it and allow to compete with the new arena? It might make enough money for the new owner to keep it going but I don't see Gores allowing it when he would probably get a similar amount for the land.

[mwilbert]

It sure sounds like this is an almost-done deal. I think it's great, and will be better for the team and the fans, but I still have a hard time believing it is better for Gores given that he will be presumably be giving up all the parking revenue and probably most of the concession revenue. I wonder if it is, or if he just doesn't care.

[Danny]

L.B. Patterson is problably cussing at Mayor Duggan, Tom Gores and Mike Illitch right about now.