Menu
Franchises

Karen Davidson Reportedly Growing Frustrated In Pistons Sale Talks With Gores

Nearly 15 months after Karen Davidson "began talking about selling the Pistons," Platinum Equity Chair & CEO Tom Gores and her agent, Citi Private Bank, "still are negotiating," according to Krupa & Goodwill of the DETROIT NEWS. Sources close to the negotiators said that "not only is no agreement imminent, Karen Davidson's fatigue and frustration are growing." One source close to Davidson last week said that the process is "so utterly problematic, she feels as though she has lost control of it." Her concern, "in part, is that while Gores continually requires more information, too few details of an agreement are in place, despite more than two months of exclusive negotiations." While the NBA is "looking for a purchase price that reflects its valuation of the franchise, $420 million, the negotiations have yet to yield a path to that price or one more agreeable to Gores." Sources said that "much remains in play," including whether Davidson and her late husband's children "will retain a portion of the franchise or are paid significant revenue from the entertainment properties, including the DTE Energy Music Theater." While the talks "continue, at least one new prospective bidder, in addition to Ilitch Holdings Inc., the company of Mike and Marian Ilitch, has been blocked from entering the process" (DETROIT NEWS, 3/31). CBSSPORTS.com's Ken Berger wrote the "word in league circles" is that negotiations to sell the Pistons to Gores are "far enough along to expect the matter to come to a vote by the Board of Governors April 14-15 in New York" (CBSSPORTS.com, 3/29).

SBJ Morning Buzzcast: March 25, 2024

NFL meeting preview; MLB's opening week ad effort and remembering Peter Angelos.

Big Get Jay Wright, March Madness is upon us and ESPN locks up CFP

On this week’s pod, our Big Get is CBS Sports college basketball analyst Jay Wright. The NCAA Championship-winning coach shares his insight with SBJ’s Austin Karp on key hoops issues and why being well dressed is an important part of his success. Also on the show, Poynter Institute senior writer Tom Jones shares who he has up and who is down in sports media. Later, SBJ’s Ben Portnoy talks the latest on ESPN’s CFP extension and who CBS, TNT Sports and ESPN need to make deep runs in the men’s and women's NCAA basketball tournaments.

SBJ I Factor: Nana-Yaw Asamoah

SBJ I Factor features an interview with AMB Sports and Entertainment Chief Commercial Office Nana-Yaw Asamoah. Asamoah, who moved over to AMBSE last year after 14 years at the NFL, talks with SBJ’s Ben Fischer about how his role model parents and older sisters pushed him to shrive, how the power of lifelong learning fuels successful people, and why AMBSE was an opportunity he could not pass up. Asamoah is 2021 SBJ Forty Under 40 honoree. SBJ I Factor is a monthly podcast offering interviews with sports executives who have been recipients of one of the magazine’s awards.

Shareable URL copied to clipboard!

https://www.sportsbusinessjournal.com/Daily/Issues/2011/03/31/Franchises/Pistons.aspx

Sorry, something went wrong with the copy but here is the link for you.

https://www.sportsbusinessjournal.com/Daily/Issues/2011/03/31/Franchises/Pistons.aspx

CLOSE