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Tuesday, August 3rd, 2010 at 10:30 am  |  26 responses

Pistons to Be Sold for Below Market Value?

It’s no secret that ownership in Detroit is looking for buyers to take the Pistons off their books, but according to Forbes, they may have to settle for a rather low price: “6 straight Eastern Conference finals appearances from the 2002-03 through the 2007-08 seasons. 259 consecutive home sellouts spanning from Jan. 19, 2004 through February 4, 2009. Top home attendance in the league each season from 2003-04 to 2008-09 except for one season where they finished 2nd by a few hundred fans. Operating profits near $25 million from 2003-2006, and exceeding $40 million the last 3 seasons. An NBA team with an iconic brand and championships spanning multiple decades (1989, 1990, 2004). And yet Karen Davidson, owner of the Detroit Pistons after taking the helm from her late husband Bill, will unlikely get anything close to market value if she attempts to sell the Detroit Pistons at any point within the next 2 years. According to Forbes’ 2009 NBA Valuations, the Pistons rank 4th in value at $479 million behind only the Lakers, Knicks, and Bulls.  And this lofty ranking despite the woes of the Detroit and Michigan economy owes itself largely to the afore-mentioned data…loyal fan base, strong business practices yielding high annual profits, and brand identity due to past championships. But unlike the Golden State Warriors -  a team that just sold at a price ($450 million) that was over $125 million above its projected Forbes market value – the Pistons may sell for $100-125 million below their currently projected market value.”

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  • Sam

    We deserve better. Three-four years ago, we were the best team in the NBA, with the Lakers and Spurs right behind us. No Chauncey, Rasheed, McDyess, no good GM, no good Owner, no good coach….that’s what you get….probably sixth to last in all of the teams out there. If we were to get at least 300 million in market value, Dave Bing couldn’t care less if the Pistons stayed here or not.

  • http://thekobebeef.wordpress.com LDR4

    Is anything in Detroit worth market value anymore? Is Chris Milam and his group (international Development Management LLC) going to buy the team and take them to Vegas? He said he has a contract with some NBA team but wouldn’t say which one. I figured they would go after the Pacers or Kings but the Pistons are going for pennies on the dollar.

  • JTaylor21

    Only if they had won the rights to draft bron (cleveland didn’t deserve him) or had taken either melo, bosh or wade. Instead the dark hole himself; DARRRRRRKO.

  • Shem

    Damn, I used to love watching the Pistons a couple years ago.

  • http://www.slamonline.com wayno

    I hope Mike Illitch buys them…he’s a great owner and he’s not afraid to spend money.

  • http://twitter.com/HarryByrdMan44 LA Huey

    @JTaylor21, Detroit pick was actually Memphis’. It was back from the Otis Thorpe trade and was only protected that year if the Grizz drew 1st in the lottery. Joe D getting high on Darko was just karma. Though Melo on those Pistons squads would have put that team on a swagger-overload and been fun to watch.

  • Clay

    La Huey they were already fun to watch and they won a championship without Anthony, Wade or Bosh. That Darko draft pick is killing them now and it will for years to come.

  • http://big11mel@yahoo.com Big Mel

    Dave Bing could care less because they play in Arburn Hills not Detroit.

  • ConeyIslander

    Viva La Vegas!

  • http://slamonline.com Allenp

    That actually sounds like they are being sold for market value.
    Their market is different from the market in other places. Kind of like the same house, in different neighborhoods, sells for a different amount of money. That’s how market value works.

  • http://slamonline BossTerry

    Wish I had the $100 mil. to buy them..

  • http://slamonline BossTerry

    Save the Sonics!!

  • http://www.bulls.com Enigmatic

    It still boggles my mind that the Pistons didn’t draft Carmelo that year. But still, there’s no way they would’ve drafted Dwyane Wade with the second pick. People forget, Wade wasn’t expected to be this good in the NBA. Everyone thought once he reached his prime, he might be able to give you a nice little stat line of say, 15, 3 and 5. Then he went and blew the hell up.

  • http://slamonline BossTerry

    @ Enigmatic.. Im not one thats big on conspiracy theories, but I think this may be a case. Both Cleveland and Denver were struggling franchises, and going into that draft there is no reason the first and second best players didnt go #1, and #2. (I think Wade leap-frogged Melo now). Pistons claimed to pick Darko cuz they liked his size, and already had a decent 3 in Prince.. I think Mr. Stern wanted Melo in Denver, the trade-off? I could be wrong, but didnt the Pistons win the championship that year?

  • http://slamonline BossTerry

    Just putting it out there, dont get me wrong, Not taking anything away from the Pistons for winning their ‘chip..

  • rav

    isnt the sale price generally the percieved ‘market value’ of a business/product anyway?

    and forbes’ values are ridiculous – according to them mchale was a few years ago the best GM in the nba and some of their soccer team valuations are just laughable quite frankly

  • total scrotal implosion

    Once again bossterry shows why he rides the short bus.

  • http://slamonline BossTerry

    Dude, whats your effing problem?? Is your home life soo miserable that you have to come in here and be an a$$hole to people you will never meet face to face?? Are U sexually frustrated? What makes you think other peoples ideas and thoughts dont matter.. I know I will never meet anyone in here face to face, yet I choose not to disrespect anybody, even though I could be a coward and hide behind my computer screen and talk all the $hit I want… Get a life…

  • http://slamonline BossTerry

    ^^^ @ total scumbag

  • http://slamonline BossTerry

    I hope your as “witty” in REAL life, and say the wrong thing to the wrong person, and get your face smashed in…

  • http://theurbangriot.com The Nupe

    Market value of a team is far from an exact science. I think forbes just says 400mil and the adds a +/- factor to it. It would be devestating to the city of Detroit if someone bought them and then moved them to Las Vegas. At least Seattle had/has a strong economy to be able to financially deal with the loss of the Sonics. But considering the auto and steel industry, the loss of the Pistons in Detroit would be huge, only comparison I can think of is when the Browns left Cleveland. Anyway my personal rule is market value is whatever you can get, sorta like Derrick Coleman saying it’s not how much you’re worth it’s how much you can negotiate. I hope whatever happens with the Pistons that they stay in Detroit.

  • http://slamonline BossTerry

    @ the Nupe- Agreed… I hate to see franchises move from city to city, especially teams with alot of history in their current city..

  • thomas

    hahah, MJ just crapped his pants.. he could’ve gotten the pistons for cheaper!!!

  • DMC14

    lol.

  • http://www.hibachi20.blogspot.com Hursty

    @ thomas – why would he buy the Pistons?

  • http://big11mel@yahoo.com Big Mel

    If we lost the Pistons we would be mad cause we lost r team but they play in Arburn Hills which means they don’t make a dime for Detroit anyways.

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