Breaking news -- Ilitch Wants to Buy the Pistons

[EastSider]

Absolutely, moving the Red Wings to Auburn Hills for a few years will hurt MotorCity Casino. They get a big bump in business on game nights... not to mention that out of town hockey players generally also stay at the MotorCity Casino Hotel suites.

Eastsider... what an odd thing to say... that somehow Karmanos's affiliation to Kwame somehow makes him less knowledgeable when it comes to sports stadium issues.... Last time I checked he owns the Carolina Hurricanes... and you own no sports franchise... so that makes him "somewhat" more knowledgeable about such matters than you.

What's odd about it? I think the man is a ...... bag for his underhanded dealings with the failed KMK. I don't give a rat's ass about his ownership of the 'Canes. It doesn't confer any sort of "Be-all, end-all" authority on stadium construction to him.

[Johnlodge]

Don't fall for the whole "ohh the businees would be hurt" crap. Money is money and if he would be making more money at the palace and have a very big bargaining chip to force the city/state to give him money for a new arena, he would bolt in a second.

What would you do if you were illitch as far as if this deal goea through? Would you really keep your hockey team in a crappy city owned arena when you have a great arena right up the road that you just bought?

Yep. Way too many Canadian Wings fans come across the bridge for games and consider the Wings their team, buy merch, could hit FoxTown, etc.. Auburn Hills is just too far out for much of the Wings fan base, and doesn't provide any added-value to his current assets.

BTW, everybody assuming the taxpayers would be paying for a new arena. Here's Comerica Park'sfunding:

Public financing: $115 million, or 38 percent, from 2 percent rental-car tax and 1 percent hotel tax, and money from Indian casino revenue
Private financing: $185 million, or 62 percent, from Tigers owner Mike Ilitch

That doesn't seem like its on the backs of Detroit residents.

[lincoln8740]

Absolutely, moving the Red Wings to Auburn Hills for a few years will hurt MotorCity Casino. They get a big bump in business on game nights... not to mention that out of town hockey players generally also stay at the MotorCity Casino Hotel suites.

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If it was greektown casino we were talking about I would completly agree with you but I really have no idea how much of a bump Motorcity gets on game nights. You still have to drive or take a cab to the game.

I really haven't been there on game nights but I have een to MGM and it really didn't seem that much more packed than usual.

[lincoln8740]

Yep. Way too many Canadian Wings fans come across the bridge for games and consider the Wings their team, buy merch, could hit FoxTown, etc.. Auburn Hills is just too far out for much of the Wings fan base, and doesn't provide any added-value to his current assets.

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Are we forgetting about all the people that don't go to wings games because its too far south?

I know there is no actual number or any studies but its just something to consider.

[Gistok]

If it was greektown casino we were talking about I would completly agree with you but I really have no idea how much of a bump Motorcity gets on game nights. You still have to drive or take a cab to the game.

I really haven't been there on game nights but I have een to MGM and it really didn't seem that much more packed than usual.

I know several MotorCity Casino card dealers, who have mentioned about the bump in business on game days at the Joe.

There are shuttles provided between the two.

[Johnlodge]

Lincoln, Wings leave for the Palace as their permanent home, I donate $100 to a charity of your choice on your behalf. You're wrong, you give $100 to Georgia Street Community Collective in mine. All of DY is witness to this bet. Deal?

[Gistok]

Are we forgetting about all the people that don't go to wings games because its too far south?

I know there is no actual number or any studies but its just something to consider.

Would those people be the same ones who find the Tigers and Lions too far south??

The only study that I'm aware of is the Detroit Opera House did a study of fans [[I know it's apples and oranges)... but they have a fan base of opera fans that drive as far away as a 3 hour drive... this gives the Detroit Opera House a potential audience among 9 million people.

[R8RBOB]

I know several MotorCity Casino card dealers, who have mentioned about the bump in business on game days at the Joe.

There are shuttles provided between the two.

I would agree about the shuttles. You're Marian Ilitch and you have a fan base that wants to not deal with the issue of parking plus they want to try their luck. Why now offer your parking deck plus a shuttle to the Joe to the fans to watch your team play. You can't lose. As a bonus, on game day, you charge for parking.

[lincoln8740]

Lincoln, Wings leave for the Palace as their permanent home, I donate $100 to a charity of your choice on your behalf. You're wrong, you give $100 to Georgia Street Community Collective in mine. All of DY is witness to this bet. Deal?

if you chage permanent to "indefinite"--- deal

[Johnlodge]

if you chage permanent to "indefinite"--- deal

Hmm, I'm not sure how to word the wager that implies the Wings would only be at the Palace temporarily, and that the longer term plan would be a new arena downtown. "Indefinite" could just mean they don't know exactly when the new arena deal will go through, and I wouldn't want to concede on those grounds.

[Sean1983]

People seem to forget that the suburbs expanded from the city, and the city expanded from the downtown area, so that downtown area is the core of the entire metro region. To me it makes the most sense for the Detroit sports teams to play in Detroit. The Pistons at the Palace is nice for people that live out that way but too far of a drive for many people that live downriver or in the western burbs. By the sports teams being downtown, it is centrally located and fair to people that live north, south or west. After all, the teams are supposed to be DETROIT teams so they should play in the city, just my opinion.

[R8RBOB]

People seem to forget that the suburbs expanded from the city, and the city expanded from the downtown area, so that downtown area is the core of the entire metro region. To me it makes the most sense for the Detroit sports teams to play in Detroit. The Pistons at the Palace is nice for people that live out that way but too far of a drive for many people that live downriver or in the western burbs. By the sports teams being downtown, it is centrally located and fair to people that live north, south or west. After all, the teams are supposed to be DETROIT teams so they should play in the city, just my opinion.

Well said.....

I remember back in 1985, Tom Wilson, then president of the Pistons commented how the Pistons would not return to Detroit because the fans [[suburbanites) would not come down to Joe Louis Arena when the Pistons temporary played there after the Silverdome roof collapsed. Hence, this started the push to build the Palace.

One year later or the 1986-87 season, the Red Wings started packing them in at the Joe and the fortunes of the Red Wings was forever changed. Wilson was wrong when he said that the fans [[again suburbanites) would not come to Detroit. I think most people would support the Pistons if they ever entertained a move back to downtown.

[bailey]

Simple question I have to ask to all who are clamoring for the move downtown; are you willing to pay for it? Because it isn't getting built without the public doing the heavy lifting.

[Johnlodge]

Simple question I have to ask to all who are clamoring for the move downtown; are you willing to pay for it? Because it isn't getting built without the public doing the heavy lifting.

See my post above regarding Comerica Park's funding.

[bailey]

See my post above regarding Comerica Park's funding.

Yes, but that was then, this is now. Comerica still hasn't been paid off by the Tigers. Is he going to be able to wring and extra 200 million or so on top of the purchase price out of Olympia/Palace entertainment to kick into a 400 million dollar stadium? is there going to be a "Comerica" willing to drop 66 mill over 20 years for naming rights? Is the city or state going to donate the land, shut down streets, and remove infrastructure free of charge so that Illitch can get the complete parcel? IIRC , there are no more empty parcel to give to him to make into parking lots nearby...another revenue stream that is already in use. ) Further, those car rental and hotel taxes were promised to end .... with everyone wringing thier hands about the cost of doing business in michigan, is extending a tax on rental cars and hotels a burden the local buisness community wants to have on it? And, since we give 45% of every dollar back to the only industry that comes here on a regular basis and in large numbers, how much of that 3% of extra tax is really being paid by anyone but us?

[bailey]

See my post above regarding Comerica Park's funding.

Yes, but that was then, this is now. Comerica still hasn't been paid off by the Tigers. Is he going to be able to wring an extra 200 million on top of the purchase price out of Olympia/Palace entertainment? is there going to be a "Comerica" willing to drop 66 mill over 20 years for naming rights? Is the city or state going to donate the land, shut down streets, and remove infrastructure free of charge so that Illitch can get the complete parcel? IIRC , there are no more empty parcels left for detroit to give to him to make into parking lots nearby. Further, those car rental and hotel taxes were promised to end .... with everyone wringing their hands about the cost of doing business in michigan, is extending a tax on rental cars and hotels a burden the local business community wants to have on it? And, since we give 45% of every dollar back to the only industry that comes here on a regular basis and in large numbers, how much of that 3% of extra tax is really being paid by anyone but us?

[Gistok]

Yes, but that was then, this is now. Comerica still hasn't been paid off by the Tigers. Is he going to be able to wring an extra 200 million on top of the purchase price out of Olympia/Palace entertainment? is there going to be a "Comerica" willing to drop 66 mill over 20 years for naming rights? Is the city or state going to donate the land, shut down streets, and remove infrastructure free of charge so that Illitch can get the complete parcel? IIRC , there are no more empty parcels left for detroit to give to him to make into parking lots nearby. Further, those car rental and hotel taxes were promised to end .... with everyone wringing their hands about the cost of doing business in michigan, is extending a tax on rental cars and hotels a burden the local business community wants to have on it? And, since we give 45% of every dollar back to the only industry that comes here on a regular basis and in large numbers, how much of that 3% of extra tax is really being paid by anyone but us?

Bailey... you really love playing the devils advocate....

1) what land are you talking about?? Ilitch owns nearly enough land down in the entertainment district to build 3 arenas.

2) are companies that provide their name to an arena/stadium always local companies? Or are there some national/out-of-town companies that pay for naming rights in other cities? Even still naming rights won't kick in until an arena is completed... and that takes several years. Hopefully the economy will improve by then.

3) I assume you're talking about the motion picture industry as being the "only industry that comes here on a regular bases".... do you have an stats to bear that out? Wat about vacationers, conventioneers, and other businesses?? I bet they outnumber motion picture folks by quite a bit.

4) Granted the hotel and bar industry would like to get out of having their customers pay the stadium tax... but do you really think that the average joe really cares or loses sleep over this one?? Even with the extra taxes, hotel rooms and drink prices are lower than in other major metro areas. They too charge taxes for stadia, convention centers, etc. , and often at a higher rate than that charged in Metro Detroit.

[R8RBOB]

New argument for keeping the Pistons in Auburn Hills.....AH would turn into a ghost town. The Pistons is Auburn Hills' last hope.

http://www.detnews.com/article/20100...362/1408/local

[Johnlodge]

New argument for keeping the Pistons in Auburn Hills.....AH would turn into a ghost town. The Pistons is Auburn Hills' last hope.

http://www.detnews.com/article/20100...362/1408/local

I have never once gone to a business in AH before or after a Palace event. I cross the sea of parking lot to my car, battle the traffic, get on the Interstate and go home. But apparently people do, according to those business owners. Joe Louis is a little like that, too, but you can always grab the people mover somewhere. I have a hard time scrounging up sympathy for Auburn Hills, we will all benefit more from a revived Detroit than a status-quo Auburn Hills. [[not that one arena is going to revive anything on its own).

[R8RBOB]

I have never once gone to a business in AH before or after a Palace event. I cross the sea of parking lot to my car, battle the traffic, get on the Interstate and go home. But apparently people do, according to those business owners. Joe Louis is a little like that, too, but you can always grab the people mover somewhere. I have a hard time scrounging up sympathy for Auburn Hills, we will all benefit more from a revived Detroit than a status-quo Auburn Hills. [[not that one arena is going to revive anything on its own).

I have to agree with you. The last time I went out to the Palace, my mother was driving and we got lost and ended up in Pontiac. As for the Pistons return back to Detroit, well if the Lakers could leave Inglewood to return to Los Angeles and the Cavaliers could leave Richfield to return to Cleveland then the Detroit Pistons can definitely can leave Auburn Hills to return to Detroit.

[BShea]

The latest insider information on the Pistons/Ilitch situation. To read the list of names, some never reported before now, that are interested in the team, or at least "kicking the tires" you'll have to be a subscriber. Two of the three stories are premium content.

$500M for Pistons? Market won't support asking price, insiders say

By Bill Shea

The bank hired to broker a sale of the Detroit Pistons and Palace Sports & Entertainment Inc. is seeking $500 million from potential buyers — a price industry insiders and likely bidders consider inflated by $100 million in this market, a source familiar with the situation said.

Karen Davidson, who has owned the National Basketball Association franchise and the PS&E umbrella management organization since the March 2009 death of her husband, Guardian Industries Inc. Chairman Bill Davidson, has hired New York City-based Citi Private Bank's sports finance and advisory team to broker a sale.

Citi declined to comment, as has Davidson through her spokesman.

Detroit sports and pizza industrialist Mike Ilitch, who announced Aug. 9 that he's told Davidson he wants to buy the Pistons and PS&E, likely would pay less than $400 million for both, said the source, who agreed to speak to Crain's on the condition of anonymity.

http://www.crainsdetroit.com/article...308159977/1069

[Detroitej72]

New argument for keeping the Pistons in Auburn Hills.....AH would turn into a ghost town. The Pistons is Auburn Hills' last hope.

http://www.detnews.com/article/20100...362/1408/local

I have little sympathy for poor little Auburn Hills. Was there an argument for keeping the Pistons in Pontiac and Detroit before that?

One could make an argument that AH made their name by turning other communities into ghost towns by poaching their businesses like Chrysler, Pistons, and Borg Werner

[fryar]

New argument for keeping the Pistons in Auburn Hills.....AH would turn into a ghost town. The Pistons is Auburn Hills' last hope.

http://www.detnews.com/article/20100...362/1408/local

I understand it would cost AH some business and what not, but the Pistons aren't the glue holding that place together:

The city has more than 40 international corporations housed there, including Chrysler Group and Borg Warner headquarters.

And here's where I briefly thought the mayor of AH was going to plead for this situation to be taken as an opportunity for a revitalized CoD to resume its role as the regional center with a regional transit agency efficiently shuttling people downtown to Pistons games:

Let's show the rest of the nation that we can collaborate as a region and a state and make decisions that are best for all, not just for a few," Auger said.

However, he soon pointed out the flaw in my logic:

Keeping the Pistons in The Palace of Auburn Hills does that.

Silly Fryar.

[Stosh]

The latest insider information on the Pistons/Ilitch situation. To read the list of names, some never reported before now, that are interested in the team, or at least "kicking the tires" you'll have to be a subscriber. Two of the three stories are premium content.

Looks like I will stop off at the library and read their copy tomorrow.

[Hypestyles]

what about those empty former apartments/housing projects [[?) right downtown near I-75 visible from Ford Field? why not tear down that entire area and build a new arena and parking.