The Pistons will "sacrifice some portion of their luxury suite revenue" as part of their "still-being-negotiated deal to move to Little Caesars Arena in September," according to Bill Shea of CRAIN'S DETROIT BUSINESS. Whether the team can "make up lost revenue elsewhere, via increased ticket and sponsorship prices, remains unclear." The Pistons expect to "sell all of the suites under multiyear deals by the end of this month." An NBA spokesperson "confirmed that deal includes a provision" for the Pistons and Red Wings to "jointly sell suites." The teams are still "negotiating the exact revenue split for suites." It is "not known" yet if the teams are "splitting things such as static signage and concessions." Olympia Entertainment by the end of '15 had "presold all of the Little Caesars suites" for the Red Wings' games. Suites are just one aspect of what is "believed to be a complex business relationship between the teams." Palace Sports & Entertainment Vice Chair Arn Tellem said last week that "undisclosed things still were being worked out between the organizations." Pistons VP/PR Kevin Grigg said that all of the 52 suites and 22 mini suites, or loge boxes, are "expected to be sold out." It is unclear if the Pistons will "get as much suite revenue from Little Caesars suite leases versus what they get now from the Palace." However, they have a premium seat revenue source the Red Wings "don't have: The pricey on-court seats unique to basketball games." Grigg said that the revenue is" kept by the Pistons." The team should "generate at least" $10M a season from on-court seating. Meanwhile, the Pistons also have "raised season ticket prices for next season for non-premium seating." The "cheapest season ticket" currently is $429. In '17-18, that "will jump to $616" (CRAIN'S DETROIT BUSINESS, 3/6 Issue).
