Anyone heard/know anything about a new owner for the Pistons. All i have heard is he was originally from Livonia, and is quite the real estate guy out west.
good?
bad?
well wait, get it can't get a lot worse .
??!
lily
Printable View
Anyone heard/know anything about a new owner for the Pistons. All i have heard is he was originally from Livonia, and is quite the real estate guy out west.
good?
bad?
well wait, get it can't get a lot worse .
??!
lily
Doesn't that Dan Gilbert guy live in Livonia? Maybe its Bob Ficano?
Gilbert owns the Cleveland Cavaliers, which, believer-it-or-not, is a professional basketball team.
Current owner is Tom Gores. He just bought them from Bill Davidson's widow, and he grew up in the Flint area, not Livonia. He owns Platinum Equity, a global private equity firm in California.
http://en.wikipedia.org/wiki/Tom_Gores
I also hear he has a place on Grosse Ile.
I hear he has a place on East River Road on Grosse Ile and that his wife grew up on the island.
There was a rumor going around this summer that Gores was looking to sell. Perhaps to Ilitch, perhaps to someone else.
His business, after all, is buying 'distressed' companies, making them profitable, and selling them for much more than he paid. He picked up the Pistons, and the Palace, at a bargain basement price. They are apparently already worth a lot more than he paid. And, due to some aspects of the NBA's recent collective bargaining agreement, there may be a potential for new revenue streams.
So, Gores can almost certainly sell now at a significant profit, without having to put another dollar into the operation.
Hopefully the Pistons will move to downtown Detroit. I don't care about the "semi-monopoly" aspect [[to me, owning sports teams is different than, say, owning banks). Unfortunately, it may take several more losing seasons at the Palace to help promote this notion.
I too, would love to see them move back downtown. Unfortunately, I do not see that happening any time soon. The Palace is still too new and expensive for it to be just available for concerts and such.Quote:
Originally Posted by Hypestyles
I used to be a big fan, back in the days when they were competitive. Now, after numerous losing seasons and the fact that the palace is just too damned far for me to drive, I've lost interest.
I believe Gores can be a decent owner. He just needs to pick up the pieces and make good hiring decisions. Sorry Joe D, you had your chance, time for new blood.
Would be great to see the Pistons in the playoffs again. But with how the top-heavy NBA is run, I won't hold my breath.