Posts Tagged ‘Tome Gores’

Detroit Pistons Still in Need of Owner

The Pistons have gone nearly there entire season without an owner. In the past three months their have been several potential owners come forth and express their interest, but for one reason or another their interest eventually dwindles. Before the Pistons can become a threat in the league, they need someone to make the off court decisions.

In the last few months the Pistons have grasped the interest of big times names like Magic Johnson, George Postolos, Mike Illitch, and Tom Gores. All four investors very successful in their respected area of business. Johnson, without saying a great player in his day with the Los Angeles Lakers, George Postolos a former executive with the Houston Rockets as well as with the NBA, Mike Illitch current owner of both the Detroit Red Wings and Detroit Tigers among other venues, and Tom Gores, a home town man now residing in California with a Net Worth of $2.2 Billion. Like I stated before three months ago it was anyones team. All four investors had claimed to set up meetings with the Pistons to move forward in the deal, but as time went on many of these investors begin to drop out. Magic Johnson was the first name on the list to disappear

ar, with no official reasoning. After Johnson Mike Illitch entered a 30-day Negotiation with the Pistons Organization. Local fans were excited about the thought of Illitch expanding his ownership to the Detroit Pistons. Plans  surfaced stating that Illitch would move the Pistons back to Detroit. In doing this Illitch would build a new arena to replace the Palace and Joe Louis arena that would host both the Pistons and the Red Wings and it would be located in the heart of Detroit near Ford Field and Comerica Park. This would make the heart of Detroit an Entertainment hotspot with all four major sports as well as the MGM Casino within five minutes. Unfortunately, this deal would fall through. In December Illitched announced he would not be purchasing the Pistons. It was said that the deal fell through due

Tom Gores is a Flint, MI native and Michigan State graduate

to inflations of revenues by the Detroit Pistons. Once Illitch knew this information he offered Karen Davidson, who currently owns the Pistons, less and it was said that the deal eventually dwinlded. Most recently is Flint native and Michigan State Grad Tom Gores. Following Illitch’s purchase falling through Gores entered his name in bidding for the Pistons. Weeks after the initial rumors surfaced it was announced that Gores had entered his 30-Day Negotiation period with Davidson. After four weeks it was announced that no deal had been made and it seemed as Davidson was back t square one with no potential owners. Fortunately it was announced that Gores was given a two-week extension to continue negotiations with Davidson. Soon after more rumors came out that Davidson and Gores had reached a deal. One article even gave specific details of the deal. Davidson has announced that no deal has been met, but negotiations continue.

The Pistons on court performance is nothing to be proud of, but I believe you need someone steering the ship to help that. Everyone wants to blame specific players, Coach Kuester, and even Joe Dumars, but you  need an Owner who has the best interest of the organization in mind before you can expect the Detroit Pistons to get back to Contending for a NBA Title.