SBD/February 9, 2011/Franchises

Prospective Pistons Buyer Tom Gores Watches Game With Karen Davidson

Gores (l) and Davidson (c) talk during last night's Spurs-Pistons game in Detroit
Pistons Owner Karen Davidson and Platinum Equity Chair & CEO Tom Gores, who has been in "negotiations to purchase the franchise," watched last night's Spurs-Pistons game "together from a luxury suite" at The Palace of Auburn Hills, according to Goodwill & Krupa of the DETROIT NEWS. After the game, Gores "initially issued a 'no comment' when asked if there was anything to report on the sale." Asked if anything would become official in the next week, Gores said, "We'll see." When pressed further, he "pointed to Davidson, who was standing next to him." Gores smiled and said, "Well, this is positive." The visit to the Pistons' home arena was the first for Gores, who lives in Beverly Hills." He has attended two Pistons games at Staples Center this season. Gores is "still negotiating with Davidson, more than 30 days after his exclusive period began," and it is "not clear whether the exclusivity has been extended or the negotiations are continuing." Gores "signed a non-disclosure agreement with the Pistons and Citi Private Bank, which is the agent for Davidson." An NBA spokesperson last week said that the sides "continue to meet." Sources aware of the bargaining said that negotiations "remain on track with the possibility of a deal soon" (DETROIT NEWS, 2/9). Davidson said of Gores, "He's family." Sources said that Gores "really wanted to purchase the team, but the sides had been unable to agree on a selling price so far" (DETROIT FREE PRESS, 2/9).
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