The Pistons reportedly have been in talks to build a practice facility in downtown Detroit and move there, and Ilitch Holdings President & CEO Chris Ilitch on Monday said he "hopes the Pistons move" into the Red Wings' new Little Caesars Arena. Appearing on CNBC's "Power Lunch," Ilitch said, "I’ve gotten to know (Pistons Owner) Tom Gores pretty well. ... He’s got a great vision on what he wants to do with his basketball team. ... He wants to make a difference and he’s really evaluating what’s the best way to do that.” Cavaliers Owner Dan Gilbert also appeared, noting if the Pistons move into Little Caesars Arena, they will be the “last team in the NBA that was out of the urban” area of their city. Gilbert, who owns numerous properties in Detroit, said it is "just economically smart" for sports teams to be in an urban environment (“Power Lunch,” CNBC, 10/3). In Detroit, Rod Beard notes both Gores and Ilitch "seem willing to discuss the preliminaries of a partnership, but there are several potential hurdles." One would be what "would happen" to The Palace of Auburn Hills, which has undergone more than $40M "in upgrades since Gores bought the team" in '11. The Palace "conceivably still would house concerts and other events, but there would need to be considerably more events to fill the calendar." Another issue is how profits would be "split between the two entities." Beard: "How much control would each side have in decision making?" Despite these hurdles, Gores "seems to be making inroads with the Ilitch family." He said, "We’re always assessing (the option of moving downtown) -- and we have to, for the city. ... But it’s got to be good for everybody” (DETROIT NEWS, 10/5).
FERTILE LAND: In Detroit, Louis Aguilar noted Ilitch on Monday "upped the ante of how much" his family may "invest in the 50-block area" around Little Caesars Arena. Ilitch last week said, "We are on track to be at about $2 billion. We’ve got about 52 projects right now on the board. We’ve announced about $1.2 billion and got about another billion yet to be announced" (DETROIT NEWS, 10/4).
