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Rumor: Gores may already be looking to sell.
Posted: Wed Aug 21, 2013 10:45 pm
by Sheeeeed
http://detroitsportsrag.net/dsr-breaking-news-pistons-could-be-moving-downtown-without-gores/A source has told the DetroitSportsRag.com that Gores is in “serious negotiations” to sell the team to a group that includes Mike Ilitch’s Olympia Entertainment.
The source is also telling the DSR that Ilitch would not be acting alone in this purchase and he is likely to have other partners involved in his group. We are still attempting to discover the names of the other potential partners.
Also, Ilitch isn’t alone in bidding for the team according the source. There are two other groups looking to buy the Pistons from Gores. All three groups plan on moving the team from Auburn Hills to Detroit though.
Re: Rumor: Gores may already be looking to sell.
Posted: Wed Aug 21, 2013 10:56 pm
by DCintheD
Gores always seemed to be the type that would sell if the price was right... This seems more like Illitch's desperate attempt to build a joint venue... I still dont buy any of this tho
Re: Rumor: Gores may already be looking to sell.
Posted: Wed Aug 21, 2013 10:59 pm
by joseph mamah
good riddance, I hope it happens.
Re: Rumor: Gores may already be looking to sell.
Posted: Wed Aug 21, 2013 11:05 pm
by princeofpalace
Having the Pistons downtown would be good for the city. So no opposition from me.
Re: Rumor: Gores may already be looking to sell.
Posted: Wed Aug 21, 2013 11:06 pm
by DETermination
Isn't ilitch making a new stadium for the red wings? if so would he move the pistons there as well?
Re: Rumor: Gores may already be looking to sell.
Posted: Wed Aug 21, 2013 11:18 pm
by JNewton
DETermination wrote:Isn't ilitch making a new stadium for the red wings? if so would he move the pistons there as well?
Yes. That was his motivation in his prior bid, but he wasn't willing to pay enough to meet Karen Davidson's asking price. I would say there's something to this; Moss's site may look like a fan blog, but he is generally pretty reliable.
Re: Rumor: Gores may already be looking to sell.
Posted: Wed Aug 21, 2013 11:19 pm
by Kilo
No other ownership group other than Ilitch could move the team downtown unless they have the money to 100% privately build a new arena. Also Ilitch will have ZERO interest in buying the Palace as his eventual new Arena will make it obsolete.
I assume Gores has found out owning a team isn't as fun as he thought it would be and wants out. I mean he only was at the Palace twice last season - that was telling to me.
If Ilitch buys it, I'd love to see the Old English D put on our uniforms - just that on the center of the chest, with the number underneath.
Re: Rumor: Gores may already be looking to sell.
Posted: Wed Aug 21, 2013 11:22 pm
by DETermination
I would love the move because ilitch is a great owner and maybe moving out of the palace is a good thing. Have they just started building the new stadium does anyone know how long before it will be finished?
Re: Rumor: Gores may already be looking to sell.
Posted: Wed Aug 21, 2013 11:26 pm
by MrBigShot
DCintheD wrote:Gores always seemed to be the type that would sell if the price was right... This seems more like Illitch's desperate attempt to build a joint venue... I still dont buy any of this tho
My thoughts exactly...if this is true, so much for "losing sleep" to bring back Piston basketball.
Re: Rumor: Gores may already be looking to sell.
Posted: Wed Aug 21, 2013 11:31 pm
by JNewton
MrBigShot wrote:DCintheD wrote:Gores always seemed to be the type that would sell if the price was right... This seems more like Illitch's desperate attempt to build a joint venue... I still dont buy any of this tho
My thoughts exactly...if this is true, so much for "losing sleep" to bring back Piston basketball.
Shouldn't exactly be surprised; Gores is an equity specialist. Now would be a good time for him to sell at a profit, with a somewhat improving Michigan economy, the team having the best prospects its had in a while (not saying much), and a much more owner friendly collective bargaining agreement.
Re: Rumor: Gores may already be looking to sell.
Posted: Wed Aug 21, 2013 11:36 pm
by MrBigShot
JNewton wrote:MrBigShot wrote:DCintheD wrote:Gores always seemed to be the type that would sell if the price was right... This seems more like Illitch's desperate attempt to build a joint venue... I still dont buy any of this tho
My thoughts exactly...if this is true, so much for "losing sleep" to bring back Piston basketball.
Shouldn't exactly be surprised; Gores is an equity specialist. Now would be a good time for him to sell at a profit, with a somewhat improving Michigan economy, the team having the best prospects its had in a while (not saying much), and a much more owner friendly collective bargaining agreement.
You're 100% right.
Kind of sad though. I think this franchise, with all it's history and success...deserves an owner who will treat the team like a passion, not just a monetary investment. Like Mark Cuban. That guy is as much a fan as he is an owner, and he's passionate about what he does...
Re: Rumor: Gores may already be looking to sell.
Posted: Wed Aug 21, 2013 11:49 pm
by ImHeisenberg
I've been advocating this theory since day 1. Gores is an investor. I am a little surprised if he's already looking to sell, but I'm perfectly fine with that. Especially if the team goes to the pizza mogul, who has done good things with the Wings and Tigers.
Re: Rumor: Gores may already be looking to sell.
Posted: Thu Aug 22, 2013 12:04 am
by dan2314
Wouldnt this be an awful time to sell? Right as the team is turning itself around and likely become successful. Unless that prospect alone raises the price, i wouldve thought it would be a great time to be the owner
Re: Rumor: Gores may already be looking to sell.
Posted: Thu Aug 22, 2013 12:08 am
by need4detroit
Good. The team will be in better hands.
Re: Rumor: Gores may already be looking to sell.
Posted: Thu Aug 22, 2013 12:20 am
by GSR121
It is unlikely here is an link with a direct denial by Gores people.
http://detroitsportsrag.net/dsr-breakin ... #more-1649
Re: Rumor: Gores may already be looking to sell.
Posted: Thu Aug 22, 2013 12:30 am
by JNewton
The fact Platinum even bothered to respond to a little known website is quite telling, IMO.
Re: Rumor: Gores may already be looking to sell.
Posted: Thu Aug 22, 2013 12:30 am
by Han Solo
Support the owner folks.
I will believe Platinum unless I see a source..
Re: Rumor: Gores may already be looking to sell.
Posted: Thu Aug 22, 2013 12:31 am
by Han Solo
Also, we're not going to lose our team.
So I'm not even in the slightest concerned about this story.
I still think Gores has a chance to be a good owner.
Re: Rumor: Gores may already be looking to sell.
Posted: Thu Aug 22, 2013 12:42 am
by Natopher
IMO, the Pistons moving to downtown Detroit would be beneficial for both the team and the Detroit economy. If Gores is trying to sell the team and the people he's selling to don't want to move the team out of Detroit then I'm all for it. Maybe I'm wrong, but it doesn't seem as though Gores has done anything for this team that another owner couldn't have. If he does want to sell I say good riddance. Thanks to Gores for getting our team away from Karen Davidson, but apart from that he's really done nothing. Unless there's a bunch of behind the scenes stuff I don't know about.
Also, if anything, that denial tells me that they are trying to sell and don't want their potential return harmed. Why would they get so upset if it wasn't true? Why even bother correcting someone who's not a major news/sports source? Getting that angry over something that, if untrue, is so trivial tells me that they're probably concerned that this will prevent them from being able to get more money when they sell. People will know they want out and try and short-change them.
Illitch buying this team would be great, but I'd also be concerned with it. He's getting really old and hasn't been in the best health. If he does buy the team, what happens when he dies? I really don't want another Karen Davison scenario. That said, I'll take an owner who would be the most invested in the PIstons, and if that's Illitch then I'm all for it.
Re: Rumor: Gores may already be looking to sell.
Posted: Thu Aug 22, 2013 12:46 am
by Q00
I don't have any problem with Gores selling the team, especially if its to Ilitch who has a better track record of success. The only thing that concerns me is the part about Ilitch not being the only one bidding. Remembering how long it took Gores to negotiate his buying price, I can only imagine how long it could take to negotiate a selling price, when he has no urgency to sell. Meaning I don't want this to be a dark cloud over the team for a whole year again, (like it was when Karen was selling) as Gores just waits around for the best price to come in.
If he does it swift and the deal is done before anyone even knows, then I have no issue. If he doesn't want to own the team, then I don't want him owning it. So I'd rather he sell as long as its not a big disctraction. Fortunately we've already built our team in the event there would be any restriction on spending or trades. But even then, with our valuable expiring contracts and potentially max money in FA next year, this better not effect that. If it doens't then whatever.