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Entries with the tag: detroit pistons

What Happened To The Ilitch/Pistons Deal?

from Mike Ozanian of SportsMoney at Forbes,

According to one person familiar with the negotiations, after agreeing to a price in excess of $400 million (my source was not more specific), Ilitch discovered the revenues presented in the prospectus were inflated. Ilitch, one of the great gentleman owners in sports, got pissed, lowered his offer price and the deal quickly blew up.

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Filed in: NHL Teams, Detroit Red Wings, Hockey Related Stories, | KK Hockey | Permalink
  Tags: detroit+pistons, marian+ilitch, mike+ilitch

Ilitch Negotiating To Buy Detroit Pistons

from Bill Shea of Crain’s Detroit Business,

The owner of the Detroit Pistons and Auburn Hills-based Palace Sports & Entertainment Inc. has chosen to open negotiations to sell the basketball team and venue management company to Detroit pizza and sports industrialist Mike Ilitch, Crain’s has learned.

It’s believed that a deal will be worked out in the next 30 days.

Any sale of the Pistons will require a vote by the National Basketball Association’s other team owners.

continued

 

Filed in: NHL Teams, Detroit Red Wings, | KK Hockey | Permalink
  Tags: detroit+pistons

Ilitch Empire Could Expand

from Bill Shea of Crain’s Detroit Business,

The attractiveness of owning the Detroit Pistons to Mike and Marian Ilitch may be equaled by a desire to create one of the largest regional entertainment monopolies in the country.

The Pistons are expected to be sold as a package with Auburn Hills-based Palace Sports & Entertainment Inc. — which would give the Ilitches the Palace of Auburn Hills, DTE Energy Music Theatre and the contract to manage Meadow Brook Music Festival for Oakland University.

That is, if the Ilitches are interested. Despite mounting evidence, they’re coy about it, and Palace Sports is mostly silent.

continued

Filed in: NHL Teams, Detroit Red Wings, | KK Hockey | Permalink
  Tags: detroit+pistons, marian+ilitch, mike+ilitch

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