SBD/Issue 88/Franchises

Former Pistons Investor Confirms Davidson Preparing To Sell

Karen Davidson Has Reportedly Talked
To NBA About Pistons Sale Process
Former Pistons minority owner Oscar Feldman yesterday confirmed that team Owner Karen Davidson is "preparing to sell" the franchise, according to Bill Shea of CRAIN'S DETROIT BUSINESS. Feldman said Davidson, who inherited the team after the passing of her husband, Bill, in March, is "inquiring into selling the team, and her limited partners concur in that decision." The franchise is currently "run by a five-person board:" Karen Davidson; Bill Davidson's son from a previous marriage, Ethan Davidson; estate trustees John Aaron and Eric Garber; and Palace Sports & Entertainment President & CEO Tom Wilson. The trustees are "believed to have financial control of the team while" Bill Davidson's estate is settled. Feldman said that he "sold his minority stake to the estate" of Bill Davidson on October 31 as "part of a previous agreement with Davidson" (CRAINSDETROIT.com, 1/19). Meanwhile, Cavaliers Senior VP/Communications Tad Carper, when asked if Cavaliers Owner Dan Gilbert is interested in selling his team and pursuing the Pistons, said, "The answer is no" (CRAINSDETROIT.com, 1/19).   

TIME TO COME TOGETHER? In Detroit, Bob Wojnowski writes the Pistons and Red Wings "need to finance and share a new arena in downtown Detroit." Having separate arenas "isn't nearly as economically feasible as it once was." Sharing a venue "seems simple, but is fraught with complications." If Bill Davidson "were still alive, this would not even be discussed." But Red Wings Owner Mike Ilitch is 80 years old and "loves big moves, and this could be a chance to seal an already-amazing legacy." But for the move to happen, "clustering all four Detroit pro teams downtown, Ilitch would have to take the aggressive lead" (DETROIT NEWS, 1/20).

Return to top

Related Topics:

Franchises

Video Powered By - Castfire CMS Powered By - Sitecore

Report a Bug