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Franchises

Tom Gores Reportedly Landed Pistons, Assets For Only $325M

Tom Gores "used his acumen at spotting a good deal" to acquire the Pistons and Palace Sports & Entertainment for only $325M, "far below" what many expected, according to sources cited by Bill Shea in a cover story for CRAIN'S DETROIT BUSINESS. A source with direct knowledge of the transaction confirmed the $325M price for the NBA team and the "umbrella management company," including the Palace of Auburn Hills. By comparison, a group led by Joe Lacob and Peter Guber purchased the Warriors last July for $450M. Shea notes "factors driving the Detroit sale include the distressed local economy, the team's poor performance, looming NBA labor trouble" and Karen Davidson's "stated desire to no longer be a team owner." A source indicated that Gores "paid for much of the transaction with his own money." There will be a "minority investment in the sale by one of the private equity funds controlled by Gores," the $2.75B Platinum Equity Capital Partners II (CRAIN'S DETROIT BUSINESS, 6/6 issue).

EYES ARE ON JOE DUMARS: In Detroit, Drew Sharp notes today is the 11th anniversary of Joe Dumars joining the Pistons as President of Basketball Operations, and he "soon will hire his seventh head coach during that time." That is "beyond ridiculous, bordering on the dysfunctional." Sharp: "Dumars MUST get this hire right. But that also requires new owner Tom Gores not overreacting as easily as Bill Davidson occasionally did" (DETROIT FREE PRESS, 6/6).

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.

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