Detroit Pistons To Be Bought By Mike Ilitch!

**BrushStart** · October-05-10, 09:36 AM

http://www.crainsdetroit.com/article...o-mike-ilitch#

**Gannon** · October-05-10, 09:41 AM

I am not unhappy about this.

He will probably bring them back to the city.

This can mean more high-income residents on the Riverfront, too.

The guy does know how to produce winning teams when he needs to.

And a whole bunch of folks who live near and north of the Palace are now breathing a sigh of relief, that their periodic traffic jams may become less frequent.

MrSam · October-05-10, 10:13 AM

Now bring them home!

**Hypestyles** · October-05-10, 10:26 AM

I hope the deal is finalized and secured in an appropriate amount of time..
Ilitch should build a new stadium downtown Detroit for the Red Wings, also have it for the Pistons, eventually.. auction off the naming rights for the stadium, suites, to offset costs..
Ilitch should do like Steinbrenner and start offering big bucks for major talent.. bring a Lebron-figure here ASAP.. I don't care about all that stuff of being in "rebuilding mode" for 4-5-6 years, to heck with that.. I want a playoff run now!
Merchandise needs to be expanded.. more jazzy uniform designs.. the same goes for hats, t-shirts, etc.

**East Detroit** · October-05-10, 10:30 AM

Fort Wayne!!

**Detroitnerd** · October-05-10, 10:32 AM

What is going to happen to the Palace? Silverdome redux?

**esp1986** · October-05-10, 10:42 AM

Originally Posted by Detroitnerd

What is going to happen to the Palace? Silverdome redux?

I'd be willing to bet that the Pistons stay there until a new arena is built. A lot of season tickey holders, what few remain, would be pretty upset if they downgraded, regardless of location. It will probably be used for concerts until the condition deteriorates, then it will likely be abandoned.

**Detroitnerd** · October-05-10, 10:56 AM

Originally Posted by esp1986

I'd be willing to bet that the Pistons stay there until a new arena is built. A lot of season tickey holders, what few remain, would be pretty upset if they downgraded, regardless of location. It will probably be used for concerts until the condition deteriorates, then it will likely be abandoned.

Too bad for Auburn Hills. Pappy Detroitnerd was one of the construction workers who built it. At 22 years old, it seems a little young to abandon, but I don't doubt your prediction.

**artds** · October-05-10, 11:05 AM

Hmmm. Since the Hockey and Basketball seasons follow each other so closely, it might make more business sense to leave the Pistons up in OC.

Otherwise Olympia would own two teams that were competing for the same entertainment dollars.

With the way Michigan's population is sprawled all over southeast Michigan, then by leaving the Pistons in OC it gives Olympia a chance to tap what are essentially two different geographic markets.

**rb336** · October-05-10, 11:11 AM

Originally Posted by artds

Hmmm. Since the Hockey and Basketball seasons follow each other so closely, it might make more business sense to leave the Pistons up in OC.

Otherwise Olympia would own two teams that were competing for the same entertainment dollars.

Lakers, clippers and Kings all play at one stadium

**esp1986** · October-05-10, 11:18 AM

Originally Posted by artds

Hmmm. Since the Hockey and Basketball seasons follow each other so closely, it might make more business sense to leave the Pistons up in OC.

Otherwise Olympia would own two teams that were competing for the same entertainment dollars.

With the way Michigan's population is sprawled all over southeast Michigan, then by leaving the Pistons in OC it gives Olympia a chance to tap what are essentially two different geographic markets.

By having one arena, corporations will pay more for their suites if there are two teams in the building... whereas they would more than likely pick one between the two arenas. Upkeep on two buildings would be astronomically expensive. They wouldn't be competing for the same dollars, their schedules would just be worked around one another's... whereas in separate buildings, they would be competing for the same dollars, as they would likely play on a few of the same nights, as they do now.

At the same time, the Pistons are missing out on the majority of the Detroit market because of where they play. I haven't been to a game since 2004, and that is simply because I live south of town, and I would essentially have to spend eight hours out of my day to go... I would have to leave two hours before the game, so I can get through traffic and actually get parked. 3 hours at the game, and at least 2 and a half hours to get home. I have friends in the western suburbs with the same problems.

**esp1986** · October-05-10, 11:27 AM

Originally Posted by Detroitnerd

Too bad for Auburn Hills. Pappy Detroitnerd was one of the construction workers who built it. At 22 years old, it seems a little young to abandon, but I don't doubt your prediction.

Palace Sports and Entertainment said prior to the sale that they were planning on replacing the Palace within eight years anyway. That more than covers the accounting life of the building, meaning they would have gotten their full tax benefit out of the building. They likely would have continued to use it, however, as it is still in fantastic condition.

Ilitch has his empire downtown though, and he will want to have every event possible downtown so that his guests visit his other various business enterprises and spend money there. Remember, he doesn't, nor is he likely to, own vast swaths of land in Oakland County...

**R8RBOB** · October-05-10, 11:39 AM

I can hear Smilovitz gloating how great it would be having the Pistons and Red Wings under one roof at the Palace. We know Ilitch want the Pistons in downtown Detroit. This is fact. What we don't know is when the new arena is going to be built. I don't think it would take a decade for this to happen. There is plenty of downtown land to build the new arena so exiting Auburn Hills can happen anytime in the next five years.

**Detroitnerd** · October-05-10, 11:40 AM

Originally Posted by esp1986

Palace Sports and Entertainment said prior to the sale that they were planning on replacing the Palace within eight years anyway. That more than covers the accounting life of the building, meaning they would have gotten their full tax benefit out of the building. They likely would have continued to use it, however, as it is still in fantastic condition.

Ilitch has his empire downtown though, and he will want to have every event possible downtown so that his guests visit his other various business enterprises and spend money there. Remember, he doesn't, nor is he likely to, own vast swaths of land in Oakland County...

Yeah, at 30 years, it's all paid off and all investors are happy. So, naturally, that's time to abandon the thing. ... What a way to run a railroad ...

**rjk** · October-05-10, 11:06 AM

Reports have Ilitch also buying Palace Sports & Entertainment.

**blackmath** · October-05-10, 11:09 AM

I really hope Ilitch doesn't sell the naming rights to the new arena so we're stuck with some ridiculous corporate name *cough* Comerica *cough*

**downtownguy** · October-05-10, 12:22 PM

Interesting take on Ilitch's strategy by Michael Rosenberg in today's freep: http://www.freep.com/article/2010100...wntown-stadium

He posits that Ilitch is buying the Piston to pressure the city into building the new arena for him.

**DLife** · October-05-10, 12:36 PM

Illitch knew it was the quickest way to pressure Detroit taxpayers to cough up $ for a new arena [[I see it being 50%). Illitch is a shrewd businessman--hiring Tom Wilson was the first move.

**R8RBOB** · October-05-10, 12:38 PM

Originally Posted by downtownguy

Interesting take on Ilitch's strategy by Michael Rosenberg in today's freep: http://www.freep.com/article/2010100...wntown-stadium

He posits that Ilitch is buying the Piston to pressure the city into building the new arena for him.

I know that Rosenberg wants to paint Ilitch as a puppet master type but I don't buy into this idea that he is going force the hand of the city of Detroit. For over 25 years, the city basically have given him anything he wanted. I don't believe out of the blue, the city would take a heavy hand approach in dealing with him. I believe someone told him that if he a) get the Pistons either through ownership or partnership to agree to return to Detroit and b) turn the Palace into a non-competitive venue and talk of a new arena can go the next stage. Everyone wins except Auburn Hills. Ilitch gets his new arena in FoxTown, the city of Detroit gets back the one thing that symbolized "fleeing to the suburbs" and Karen Davidson walks away with more money. Auburn Hills will still have Chrysler if that's enough.

**Crew** · October-05-10, 12:39 PM

If Mike wants to see a new arena built, he better get a shoevel in the ground soon. He will be 82 years old in July. He will be at least 85 before any new area could be built.

**BrushStart** · October-05-10, 12:48 PM

I think the Freep article is total BS. If Ilitch threatened to move the Wings [[more than temporarily) out of downtown, everyone would call his bluff. The guy has invested a fortune in Foxtown, and Wings fans dump tons of $$$ into his businesses in Detroit. It's a no-brainer for the City of Detroit to help fund a new arena- doing so would be the best investment the City could make this century. Detroit is re-emerging as the wheelhouse of the region and state. The city needs to continue to pour investment inwards so money and influence continue to flow in that direction. Bing knows this, Ilitch knows this, even LBP knows this. Moving the Wings out to the 'burbs would be the worst thing that could happen to Metro Detroit right now.

Ilitch wants a monopoly on Detroit entertainment, true, but he did not buy the Pistons to corner the City into helping him pay for a new arena. He could have likely done that without buying the Pistons. Nobody has more clout in Detroit than Mike Ilitch, and the City has no better partner right now for turning the direction of investment back towards Detroit.

The Wings and Pistons will both be downtown shortly, and it will be the best thing for Detroit, the region, and of course for Ilitch. This development will build on continued momentum to make Detroit the regional business hub and enable it to attract outside business and investment. When Dan Gilbert gets multiple calls per day about doing business in Detroit's CBD, this is one additional thing he can point to.

**esp1986** · October-05-10, 01:02 PM

Originally Posted by BrushStart

I think the Freep article is total BS. If Ilitch threatened to move the Wings [[more than temporarily) out of downtown, everyone would call his bluff. The guy has invested a fortune in Foxtown, and Wings fans dump tons of $$$ into his businesses in Detroit. It's a no-brainer for the City of Detroit to help fund a new arena- doing so would be the best investment the City could make this century. Detroit is re-emerging as the wheelhouse of the region and state. The city needs to continue to pour investment inwards so money and influence continue to flow in that direction. Bing knows this, Ilitch knows this, even LBP knows this. Moving the Wings out to the 'burbs would be the worst thing that could happen to Metro Detroit right now.

Ilitch wants a monopoly on Detroit entertainment, true, but he did not buy the Pistons to corner the City into helping him pay for a new arena. He could have likely done that without buying the Pistons. Nobody has more clout in Detroit than Mike Ilitch, and the City has no better partner right now for turning the direction of investment back towards Detroit.

The Wings and Pistons will both be downtown shortly, and it will be the best thing for Detroit, the region, and of course for Ilitch. This development will build on continued momentum to make Detroit the regional business hub and enable it to attract outside business and investment. When Dan Gilbert gets multiple calls per day about doing business in Detroit's CBD, this is one additional thing he can point to.

I am with you... he has been amassing land in Lower Midtown and west of Foxtown for some time now. He has spoken to Wayne County and the City of Detroit about financing [[probably a short talk on the latter). Odds are, this just gives him a little bit more leverage when it comes to securing his portion of the financing, something that will be imperative in this economy, as he will have to foot a significant portion of the bill himself to make this happen right now. Having two teams there will make banks much more likely to finance the project, as it then becomes a safer investment for them.

EastSider · October-05-10, 02:42 PM

Originally Posted by BrushStart

It's a no-brainer for the City of Detroit to help fund a new arena- doing so would be the best investment the City could make this century.

Even making allowances for hyperbole, your statement is rock-bottom stupid.

How about improving police, fire and EMS services?

What about the school system?

All of that takes a backseat to a sports arena?

Go back to playing Sim City.

**MidniteSingh** · October-05-10, 01:39 PM

According to wikipedia, the capacity at the Palace is 22,076 and the capacity at the Joe is 20,076 for hockey and 21,800 for basketball. Given the similarity in size, does anyone think there is a chance the city asks Illitch to bring the Pistons to the Joe while a new arena is built? This would give the city some additional tax dollars to help fund the construction, and other dominos would start falling in the CBD sooner rather than later...

**R8RBOB** · October-05-10, 01:53 PM

Originally Posted by MidniteSingh

According to wikipedia, the capacity at the Palace is 22,076 and the capacity at the Joe is 20,076 for hockey and 21,800 for basketball. Given the similarity in size, does anyone think there is a chance the city asks Illitch to bring the Pistons to the Joe while a new arena is built? This would give the city some additional tax dollars to help fund the construction, and other dominos would start falling in the CBD sooner rather than later...

Easy there Mid, though we want the Pistons downtown, lets not rush this. Even if the Ilitches take possession of the Palace they aren't going to abandon it before they have a plan to use it other than a professional sports arena.