Magic Joining Pistons?

Q00 · Post #1 » by **Q00** » Fri Aug 13, 2010 9:56 pm

Magic revealed today at the HOF that he would have interest in joining his hometown team in some capacity be it part ownership or front office, if the situation were right.

As a Pistons fan, just wanted to get Laker fans' reaction on how likely this could be?

The article also mentions he was part of a group tha made a bid for GSW, so it sounds like he's looking for a bigger piece of the pie, even if it takes him elsewhere. And if it also takes him home to Motown that would double the odds of such move happening, imo. But a lot would still have to take place before that would happen. From my perspective having an ownership/front office of Ilitch, Magic, and Joe D would be like a dream team of executives/owners.

http://www.nba.com/2010/news/08/13/john ... ef:nbahpt2

detroitboy416 · Post #2 » by **detroitboy416** » Fri Aug 13, 2010 10:28 pm

Hell ya magic back home takin control of the pistons would be great id love that to happen... 8-)

Post #3 » by **dockingsched** » Fri Aug 13, 2010 10:47 pm

good for magic. he knows that the lakers aren't leaving the hands of the buss family in his lifetime and he certainly isn't next in line.

Post #4 » by **Danny Darko** » Fri Aug 13, 2010 10:53 pm

I'm all for him helping Michigan if thats what he wants. He's done alot for us on the court, he'll always be a Laker and I'm pretty sure we won't miss him as an owner/exec.

H00PDREAMS · Post #5 » by **H00PDREAMS** » Fri Aug 13, 2010 10:59 pm

Why not Mitch has the front office on lock and after Buss Jr. and Jeanie sealing up the ownership might as well.

H00PDREAMS · Post #6 » by **H00PDREAMS** » Fri Aug 13, 2010 10:59 pm

Why not Mitch has the front office on lock and after Buss Jr. and Jeanie sealing up the ownership might as well.

JustAwesome · Post #7 » by **JustAwesome** » Fri Aug 13, 2010 11:16 pm

Always knew that he was going to own a team some day.

laduane1 · Post #8 » by **laduane1** » Sat Aug 14, 2010 12:43 am

Magic wants to take it to the next level. Not sure if he has enough money to be a majority owner. These days that seems to be billion dollar plus. I hope him well and wish he would stay here. But he is really just a face to the Lakers and really not much more than 5 percent of the entire pie.

Q00 · Post #9 » by **Q00** » Sat Aug 14, 2010 2:47 am

laduane1 wrote:Magic wants to take it to the next level. Not sure if he has enough money to be a majority owner. These days that seems to be billion dollar plus. I hope him well and wish he would stay here. But he is really just a face to the Lakers and really not much more than 5 percent of the entire pie.

yeah, he said he wouldn't want to be majority owner because it would force him to have to move from LA where his family is already rooted, but it sounds like he just wants more share. Technically he could own up to 49% and still be minority, but I think Ilitch wants more than just 51%, but I could see Magic getting 33% or something like that if he's got the funds.

Piston Boris · Post #10 » by **Piston Boris** » Sat Aug 14, 2010 4:02 am

Danny Darko wrote:I'm all for him helping Michigan if thats what he wants. He's done alot for us on the court, he'll always be a Laker and I'm pretty sure we won't miss him as an owner/exec.

Does anyone have an idea how good Magic is as an exec?

Pablo Escobar · Post #11 » by **Pablo Escobar** » Sat Aug 14, 2010 4:32 am

I think he should wait and see what Detroit does before he invests in them

chefy · Post #12 » by **chefy** » Sat Aug 14, 2010 10:29 pm

nice, then trade us prince and hamilton for luke and sasha

waka1087 · Post #13 » by **waka1087** » Sun Aug 15, 2010 1:36 am

chefy wrote:nice, then trade us prince and hamilton for luke and sasha

LOL

Mamba Venom · Post #14 » by **Mamba Venom** » Sun Aug 15, 2010 8:50 pm

Jordan got a team.

Magic & Bird should pull their $ and buy a team together.

JustAwesome · Post #15 » by **JustAwesome** » Sun Aug 15, 2010 9:36 pm

Magic can come up with enough to be a majority owner of the Pistons. It definitely will not cost him $1 billion.

lakersfanatic · Post #16 » by **lakersfanatic** » Mon Aug 16, 2010 9:41 pm

he's done basically almost everything except for owning a team.. and if it's going to his roots.. so beit.

Q00 · Post #17 » by **Q00** » Wed Aug 18, 2010 7:02 pm

chefy wrote:nice, then trade us prince and hamilton for luke and sasha

No thanks, but you can have Maxiell and Wilcox for a 3rd round pick.

ock · Post #18 » by **ock** » Thu Aug 19, 2010 10:01 am

JustAwesome wrote:Magic can come up with enough to be a majority owner of the Pistons. It definitely will not cost him $1 billion.

Detroit is a dying city. Won't cost anything close to what Golden State cost.

I'm sure Magic has the dough. Aside from his ballin' money, he's been financially active and owns many theaters and Burger Kings, etc. Other athletes could learn a thing or two on what to do with their money beyond sports.

Grime_Wizard · Post #19 » by **Grime_Wizard** » Thu Aug 19, 2010 10:36 am

ock wrote:
JustAwesome wrote:Magic can come up with enough to be a majority owner of the Pistons. It definitely will not cost him $1 billion.

Detroit is a dying city. Won't cost anything close to what Golden State cost.

I'm sure Magic has the dough. Aside from his ballin' money, he's been financially active and owns many theaters and Burger Kings, etc. Other athletes could learn a thing or two on what to do with their money beyond sports.

Isnt JOrdan the richest retired baller, even he didnt have enough money

Q00 · Post #20 » by **Q00** » Thu Aug 19, 2010 11:38 am

Grime_Wizard wrote:
ock wrote:
JustAwesome wrote:Magic can come up with enough to be a majority owner of the Pistons. It definitely will not cost him $1 billion.

Detroit is a dying city. Won't cost anything close to what Golden State cost.

I'm sure Magic has the dough. Aside from his ballin' money, he's been financially active and owns many theaters and Burger Kings, etc. Other athletes could learn a thing or two on what to do with their money beyond sports.

Isnt JOrdan the richest retired baller, even he didnt have enough money

Magic is not looking to be majority owner from his statements. The Pistons/Palace Sports and Entertainment are valued at $480 million, 4th highest in the league. What makes them worth so much is the Palace, which they own, as well as other concert venues around Metro Detroit like DTE Energy Music Theatre. All are included in the sale of the Pistons franchise. I think more of their profits comes from these other venues than the actual Pistons. So its a package deal of many successful business in Detroit, all included in the sale of the team, which is what what makes it attractive to investors. So, the actual Pistons franchise might only be worth $200 million. Karen Davidon seems to think she can get over $500 million for everything, but recent reports say they will probably get much less than its valued because of the economy. My guess would be somehwere around $300-$350 million. If Magic is only investing in the Pistons and not the other concert venues, he might be able to get almost half for $100 million and still be "minorty" by definition, by owning 49%. Nothings been confirmed, but it sounded like he would be a part of Ilitch's investment group. So, I think more epends on what share Ilitch is willing to offer Magic, than how much money Magic has to invest.