The Detroit Pistons Have Found a Buyer

by October 05, 2010

It’s not exactly a surprise that Mike Ilitch will soon own the Pistons, and the Free Press has the details: “It appears Mike Ilitch will add the Detroit Pistons to his southeastern Michigan sports empire. Ilitch, who already owns the Detroit Red Wings and Detroit Tigers, has opened negotiations to purchase the Pistons and Palace Sports & Entertainment from Karen Davidson, the Free Press has learned. Ilitch, who made his fortune through the Little Caesars pizza chain, announced in August his intentions to purchase the Pistons to prevent another buyer from moving the NBA franchise out of town. But another reason for his interest is the building that houses the team that has won three NBA titles: the Palace. Ilitch has stated his interest in a new downtown arena to house the Red Wings, but the economic climate has made using public dollars for an arena a tough sell. With the Palace, Ilitch would have a place to move the Wings until a new arena is built.”