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Old 10-05-2010, 09:49 AM
 
Location: Downtown Detroit
1,497 posts, read 3,357,932 times
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Detroit Pistons owner to sell team to Mike Ilitch - Detroit News and Information - Crain's Detroit Business

Great news sports fans! Mike Ilitch has entered into purchase negotiations with Karen Davison to buy the Detroit Pistons. This means the team will be staying in Michigan and will get an owner who will be passionate about the franchise. The Ilitch's already own two of the best run teams in pro sports: the Tigers and Red Wings. Ilitch is expected to build a new stadium in Detroit to house both the Wings and Pistons. Fantastic!
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Old 11-11-2010, 05:13 PM
 
Location: Downtown Detroit
1,497 posts, read 3,357,932 times
Reputation: 927
Question Pistons Back On The Market...?

Well, it looks like the Pistons deal with Mike Ilitch is back up in the air. Apparently, no agreement has been forged and the exclusive negotiating period with PS&E has ended. Problems with price and financing are cited as the cause for the delay. The only other formidable bidder has been billionaire Tom Gores of California, who has ties to the Detroit area. There's also speculation about interest in the team by an investor from Texas, who operates several other large venues. We shall see how this all plays out; I'm sure Ilitch is not out of the running yet, but if he can't get his house in order or get the purchase price he wants, he may walk...

Previous bidders for Pistons contacted as talks with Ilitch reportedly bog down - Crain's Detroit Business - Detroit News and Information

Also, the a few news sources reported yesterday that Olympia Entertainment will no longer be managing the Masonic Temple. From what I read, the Masons plan to keep it in operation as major music and entertainment venue in the city.
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Old 11-12-2010, 07:23 AM
 
4,855 posts, read 8,819,211 times
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If Mike Ilitch buys the Pistons, keeps them in Michigan, and builds a new arena downtown, that will all be great, for the most part. However, have there been discussions about what will happen to the Palace if the Pistons leave? Will it continue as a concert/event venue? With DTE Energy and a brand spanking new arena downtown near the better hotels, would big name acts still book the Palace?

I am all for a renaissance in Detroit and for good things happening there, but I would hate to see the Palace become another (albeit nicer) Silverdome...
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