EXCLUSIVE: Billionaire Tom Gores talks about his bid for the Pistons, Delphi

http://www.crainsdetroit.com/article...FREE/309199982

Pistons bidder shot for Delphi

Private-equity baron has Michigan ties

By Bill Shea
Tom Gores isn't a household name in metro Detroit, but he could be this fall.

He nearly bought Troy-based auto supplier Delphi Holdings LLP for $3.6 billion last year and now is rumored to have the inside track on becoming the next owner of the Detroit Pistons, although neither he nor anyone involved will talk much about it.

A source familiar with the situation said bids for the team were submitted by Gores and an undetermined number of other bidders around Labor Day to Citi Private Bank's sports finance and advisory team, which was hired to broker a sale.

More Gores in my blog:
http://www.crainsdetroit.com/article...dder-tom-gores

He sounds like a decent enough person [[based on his bio), and although living in California, he still cares about and maintains his Michigan connection and residence. Perhaps he'd come back to Michigan more often and invest elsewhere locally...

I presume this means he would keep the team in the area. That is my main concern, with so many 'groups' who want to move a viable team to places like Las Vegas where they will have no fan base. Hopefully he would be open to collaboration on a new arena with the Ilitches, but the team needs to stay in the area, first and foremost.

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Originally Posted by esp1986

I presume this means he would keep the team in the area. That is my main concern, with so many 'groups' who want to move a viable team to places like Las Vegas where they will have no fan base. Hopefully he would be open to collaboration on a new arena with the Ilitches, but the team needs to stay in the area, first and foremost.

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Thanks for bringing up this important point. I totally forgot to add that bullet point in my blog. Prior to talking to Gores last week, I'd previously had a conversation with someone in a position to know and they said he would not move the team ... but didn't say if he would cooperate with the Ilitches on a joint arena. The source confirmed only that Gores would not move the team out of Michigan. It was too soon in the process to talk about any cooperation with the Ilitches. I added this point to my blog this morning. Can't believe I forgot that!

eh.. we'll see.. I'd still want Ilitch to get the team..