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PISTONS OWNER DAVIDSON HAS REPORTED INTEREST IN LIGHTNING
Published May 1, 1998
Pistons Owner William Davidson "is in preliminary talks" with attorneys representing ownership of the Lightning about purchasing the team, according to Kupelian & O'Hara of the DETROIT NEWS. Pistons President Tom Wilson: "We are looking at it. ... We saw this as it might be an opportunity to go into a one-winter-sport town. It's kind of an underperforming team right now. You might be able to pick it up at a decent price." Wilson added that "there are two or three other parties that are serious. I wouldn't say it's a strong possibility it's going to happen." Pistons management has reviewed the Lightning's books, "indicating talks are serious." Wilson said that the price range for the Lightning, based on recent sales of other teams and the cost of expansion franchises, is $90-130M. He added that Davidson "has no intention" of moving the Lightning to The Palace outside of Detroit (DETROIT NEWS, 5/1).