+ Reply to Thread
Page 1 of 5
1 2 3 ... LastLast
Results 1 to 10 of 50

Thread: Karen Davidson putting the Pistons up for sale? (confirmed)

  1. #1

    Karen Davidson putting the Pistons up for sale? (confirmed)

    http://detnews.com/article/20100117/...downtown-arena

    Better yet, the Wings moving into the Palace?

    Don't bet against Wings, Pistons sharing downtown arena
    Chris McCosky / The Detroit News

    Detroit -- It is possible, perhaps even likely, that within this decade the Red Wings and Pistons will partner to build and share a sports arena in downtown Detroit, sources told The Detroit News.

    Mike and Marian Ilitch, owners of the Red Wings, have not renewed their lease at Joe Louis Arena beyond this season, and face more than $10 million in structural repair at the dilapidated arena this summer if the team is to play there next season.

    Going back to the Joe, it seems, is a last resort. So the Ilitches have been looking for a temporary home while they sort out, if, when, where and how they might build a new arena in downtown Detroit.

    Advertisement

    The Wings and Palace Sports and Entertainment, overseers of The Palace, have been working on a lease agreement for over a year. The Ilitches toured The Palace in December 2008. The Palace submitted a five-year lease offer to the Ilitches, who made a counteroffer -- presumably for fewer years.

    The Palace is still sitting on that counteroffer.

    It might make more sense for the Wings to work a lease deal with Ford Field. If the Wings rented Ford Field, the Ilitches could keep all the ancillary revenue from their games in the city. However, there has not been talk between the parties to discuss that option.

    Still, to move the Red Wings to North Oakland County could be risky. The core fan base is still Metro Detroit and Downriver. The Wings would rope in more corporate money by moving to The Palace, but would lose the Hockeytown atmosphere.

    In the meantime, Pistons owner Karen Davidson seriously is considering selling the Pistons and Palace Sports and Entertainment. She already has had a conversation with NBA commissioner David Stern on the process and protocol for attracting potential buyers. Once she sells, there would be nothing keeping the Pistons tethered to The Palace.

    There also has been a lot of chatter about the Ilitches making an offer to buy the Pistons and Palace Sports and Entertainment. They may have thought about it, but according to sources, Mike Ilitch is not a fan of the NBA. While he might be interested in The Palace, he has no interest in buying the Pistons.

    So, in the end, it makes sense for the Pistons and Wings to partner for two critical reasons:

    • In addition to the Wings needing a new home, the long-term plan at Palace Sports and Entertainment has been to build a new arena before 2020.

    • With both organizations needing arenas in this economically-bereft region, it's hard to imagine either being able to raise the money alone any time soon.

    Moving the Pistons back downtown -- something that has been debated for years and always rejected by the late Bill Davidson -- would create a huge buzz.

    And The Palace still would be viable as a concert and entertainment venue.

  2. #2
    I belive I've asked this before but:

    Who would be the contenders to buy the Pistons?

    Anyone local?

    And for dudes who remember everything: has there been a group or person interested in buying an NBA team (say the Sonics or whatever) that for whatever reason didn't finalise the deal?

    Cause if the Pistons are sold there is no guarantee they get sold to a "local" or even to a group/person who will keep them in Detroit
    Rise like Lions after slumber,
    In unvanquishable number -
    Shake your chains to earth like dew
    Which in sleep had fallen on you -
    Ye are many - they are few.

  3. #3
    Glenn's Avatar
    Join Date
    Dec 2005
    Location
    The Buxtons are not thieves.
    Posts
    2,895
    Blog Entries
    2
    Stern will never let the Pistons leave the area, never.

    As much as we've thrown around well know entertainment names like Seger, Kid Rock, etc. In discussions like these, I doubt that they actually have the capital, and the willingness to risk that capital, to actually pull it off. I suppose a group of 5 or more entertainment industry people could form some sort of combined ownership group (kind of like what the Dolphins are doing, but those fools are all minority owners) but more likely it would be a corporation looking to diversify, like Quicken Loans did with the Cavs and like, gulp, Ford did with the Lions.
    Find a new slant.

  4. #4
    Glenn's Avatar
    Join Date
    Dec 2005
    Location
    The Buxtons are not thieves.
    Posts
    2,895
    Blog Entries
    2
    If Quicken (Cavs) and Amway (Magic) didn't already own teams, they would be options, but since both of those companies are on the slimy side, that's fine.

    Meijer makes some sense.
    Find a new slant.

  5. #5
    Glenn's Avatar
    Join Date
    Dec 2005
    Location
    The Buxtons are not thieves.
    Posts
    2,895
    Blog Entries
    2
    And if Karen isn't passionate and committed to owning the team, then this is probably really good news.

    If we just had a few more members to drive that banner ad revenue, we could have made a run at it.
    Find a new slant.

  6. #6
    Quote Originally Posted by Glan
    If Quicken (Cavs) and Amway (Magic) didn't already own teams, they would be options, but since both of those companies are on the slimy side, that's fine.

    Meijer makes some sense.
    Who or what is Meijer?

    Would a downtown arena complex housing the Wings and the Pistons "revitalize"/continue the "revitalization" that Mxy posted about in Motor City Style?

    Cause I remember you guys saying that the city was not somewhere you would go unless you absolutely had to.

    Has it changed a lot or would the downtown arena be a key building block in changing the perception of the city of Detroit?

    Cause if the city wants to "reviatlize" downtown with a new arena then I'm guessing funding wouldn't be such a major issue. And any potential owner would love to know that.

    BTW, is the Palace included in the sale?
    Rise like Lions after slumber,
    In unvanquishable number -
    Shake your chains to earth like dew
    Which in sleep had fallen on you -
    Ye are many - they are few.

  7. #7
    Glenn's Avatar
    Join Date
    Dec 2005
    Location
    The Buxtons are not thieves.
    Posts
    2,895
    Blog Entries
    2
    Meijer is a large supermarket/grocery/general merchandise chain based in Michigan.

    Meijer.com or something
    Find a new slant.

  8. #8
    Don't mistake anyone. Their is no "revitalization" of Detroit. Its 1 earthquake away from being worse than Haiti. Its a 3rd world city and no stadium is going to do anything except lower attendance. People from Oakland County who have those $$$ tickets aren't going to want to drive down to the ghetto.

    I don't think the Pistons would move downtown because the Palace is a cash cow. The Pistons are always near the top of the league in revenue and profit. Last year they finished 3rd with $47 mil income. I also have a hard time believing the Red Wings would move to the Palace because Illitch owns all that land in Detroit anticipating a new stadium. This whole stadium sharing comes as a shocker to me. It does look like Davidson's wife is going to sell everything he owns. Hopefully we get more aggressive ownership that will allow Dumars to spend than save for a Chinese airplane.

  9. #9
    How old is Karen? Bitch must have been itching for the old man to die so she could sell his life's work.

  10. #10
    NOT TO BE FUCKED WITH Uncle Mxy's Avatar
    Join Date
    Apr 2006
    Location
    Zrfff
    Posts
    14,901
    There are some minority owners for the current Pistons... hmm.

    I wonder if Taubman might be up for owning the Pistons. He owned the Panthers back in the 80s.

+ Reply to Thread

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts