Detroit Pistons Still Searching for a Buyer

by May 20, 2010

The current owner, Karen Davidson, tells the Free Press that her search for someone to take the Pistons off her hands continues: “Pistons owner Karen Davidson said Wednesday that the team was definitely for sale. “We’re looking for a buyer,” she told the Free Press at a Pistons charity event in Detroit. That is a slight change from Davidson’s initial position, revealed in late January, that she was exploring a possible sale. Davidson assumed control of the franchise after the March 13, 2009, death of her husband, Bill. Last month, the Free Press reported that Citigroup had been retained to assess the value of the Pistons — which Forbes recently placed at $479 million, fourth-highest in the NBA — and probably would broker a sale. The NBA is committed to keeping the franchise in Detroit. NBA owners must approve any sale in the 30-team league.”