Detroit Pro Sports Owners Begin To Plan For Next Generation
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Detroit Team Owners Like Ilitch
Beginning To Implement Succession Plans |
Detroit's three professional sports owners, Mike Ilitch (Tigers and Red Wings), William Clay Ford Sr. (Lions) and William Davidson (Pistons), are "all approaching important crossroads," according to Joanne Gerstner of the DETROIT NEWS. The men are aged 78 and older, and it is "likely sometime in the next decade -- if not sooner -- all four teams could be under different management, or even new ownership." N.Y.-based attorney Don Gibson, who specializes in pro sports marketing, said, "Good owners plan for his or her own passage, while those who are in denial don't deal with it and things go badly after they're gone." While reps for the owners refused interview requests, Gerstner reported there are "some clues ... they are planning ahead." Ilitch promoted his son Christopher to President & CEO of Ilitch Holdings, the umbrella company for the Tigers and Red Wings. Ford's son, Bill Ford Jr., is Vice Chair of the Lions. While Davidson's situation is "less clear," as his children are not involved with the Pistons or Palace Sports & Entertainment, Davidson's attorney and business partner Oscar Feldman said that the "empire will remain in family control." Feldman: "It will absolutely stay in the family, you can rest assured of that. Bill Davidson would never sell the team. It is his greatest joy outside of his family" (DETROIT NEWS, 3/11).
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