Report: Mike Ilitch to buy Detroit Pistons

[DeToxRox]

Red Wings and Tigers owner Mike Ilitch appears to be the frontrunner to purchase the Pistons.

According to a report published today by Crain’s Detroit Business, the Pistons have opened negotiations with Ilitch, and a deal is anticipated within 30 days.

Pistons owner Karen Davidson told the Free Press recently that the sale of the team is “progressing very well,” and that she expects a deal by Oct. 27.

Davidson’s husband, Bill Davidson, died last year. The late owner helped the Pistons win NBA titles in 1989, 1990 and 2004.

Palace Sports and Entertainment, the company that runs the Pistons, has acknowledged interest from multiple potential buyers, including Ilitch.


Read more: Report: Pistons tab Ilitch to buy the team | freep.com | Detroit Free Press Pistons tap Ilitch to buy the team | freep.com | Detroit Free Press

Pretty interesting news. This should all be assure the Pistons moving back to Detroit to share a new arena with the Red Wings. Also having the Pistons back in Detroit is huge for the community because the popularity of the team has never wavered there but many people there don't have the means to travel almost an hour to Auburn Hills for a game.

Only worry to me is that he now owns three teams, but since the NHL has a hard cap and it sounds like the NBA may too eventually I guess it won't be a Huizezinga time issue. Plus Ilitch's first love is the Tigers so he'll continue to spend there.

[Honolulu_Blue]

I'm actually working on this deal from the legal side of things. I can't really say anything, of course, but it should be interesting to follow.

[Gary Gorski]

Its too bad if its true - he has been a GREAT owner for the Wings and decent one for the Tigers but I would just hope he's buying it to put the same cash and care into the Pistons and not to a) get a new Wings stadium built downtown and b) buying it for Palace entertainment so that he's basically the only game in town for concerts etc.

I'd rather he buy them than someone who would move the team but I had hoped for a dedicated owner to the Pistons.

[DeToxRox]

Originally Posted by Gary Gorski

Its too bad if its true - he has been a GREAT owner for the Wings and decent one for the Tigers but I would just hope he's buying it to put the same cash and care into the Pistons and not to a) get a new Wings stadium built downtown and b) buying it for Palace entertainment so that he's basically the only game in town for concerts etc.

I'd rather he buy them than someone who would move the team but I had hoped for a dedicated owner to the Pistons.

My opinion is that Sam Simon, the CEO of Atlas Oil (I believe that is the company) is going to be a part owner. He is Chris Ilitch's best friend apparently and a 20 + year season ticket holder. He was rumored to want to buy the team but it didn't sound like he'd have much of a chance. I bet he becomes part owner and once the new Stadium is built, he buys the team from Mike.

I think Mike is on board as a way to make sure their group got the team so he got his stadium.

[Matthean]

Now just buy the Lions....

[M GO BLUE!!!]

Illitch is a good sports team owner.

Too bad his other hobbies include turning historic buildings into parking lots and making "food" that resembles pizza, but tastes like parking lots.