Pistons to sell team to Mike Ilitch

The Detroit Pistons have found a new owner and he knows Motor City sports.

The Pistons have decided nfl jersey
to sell the team to Detroit Tigers and Detroit Red Wings owner Mike Ilitch, a person involved with the process said Tuesday. The person, who spoke to The Associated Press on the condition of anonymity because of a confidentiality agreement, football jerseysaid both sides were negotiating financial terms.

Forbes last year valued the team at $479 million, but a weak economy, the threat of annfl football jersey NBA lockout next year and a motivated seller—Karen Davidson— likely mean the price is lower.

Ilitch Holdings spokeswoman pittsburgh steelers jerseyJennifer Haselhuhn said the organization signed a nondisclosure agreement earlier this year and cannot comment.tennessee titans jersey Mayor Dave Bing, former Pistons star, said Tuesday “the deal is not done, but we remain optimistic.”

Ilitch, the Littledallas cowboys jersey Caesars pizza mogul, has said he was motivated to buy the Pistons in part to make sure another buyer didn’t move the NBA club out of town.

If the sale goes new orleans saints jerseythrough, the 81-year-old Ilitch would be the only person to own and control teams in three of North America’s four major professional leagues. new york giants jerseyTed Turner once owned the Atlanta Braves, Hawks and Thrashers.

The Pistons sale could San Francisco 49ers jersey
have significant ramifications for where the area’s pro teams play—in Detroit or its suburbs.