Pistons for sale,

thesack12 · Post #41 » by **thesack12** » Tue Jan 19, 2010 5:45 pm

A new owner has a lot more potential to have an adverse effect than a beneficial effect on the team. So it is indeed, somewhat scary. Not at all good news.

As for still following the team if it left Detroit, Personally I definitely would. My allegiance to sports/teams have never had any geographic reasoning. I have lived in Indianapolis my whole life and actually hate the Pacers/Colts; The Pistons are my basketball team, the 49ers are my football team, The Red Sox are my baseball team, I couldn't care less about hockey, and my college teams are UConn and Purdue (I went to a Purdue affiliated school).

In conclusion, Im very apprehensive about the possible sale of the franchise. Also, if the Pistons re-locate, (hope like hell they don't though) I would still be a fan.

Manocad · Post #42 » by **Manocad** » Tue Jan 19, 2010 6:14 pm

Basic business fundamental:
You don't buy a business and remove it from an established income stream that results in continual annual profits. If the Pistons were losing a bunch of money, could be bought on the cheap and relocated to another area that the new owner felt could make the franchise profitable, us fans might have a concern. However:

1) The Pistons don't lose money
2) The team cannot be bought cheaply

End of story. They aren't going anywhere.

Low-Ki · Post #43 » by **Low-Ki** » Tue Jan 19, 2010 7:56 pm

They make money because of the Palace. The Palace is aging well, but it's still aging. Davidson wants to sell know because she knows she can't sell The Palace separately, and knows she needs to sell quickly. If ilitch builds a new arena in the Foxtown area the Palace will plummet in value.

Manocad · Post #44 » by **Manocad** » Thu Jan 21, 2010 1:34 am

The Pistons will make money in a new arena downtown. They'll get higher attendance in a new arena in Foxtown than they will at the Palace, which really doesn't have a whole helluva lot in its immediate vicinity.

I hope Ilitch buys the team, builds a new arena behind the Fox Theatre, and puts both the Pistons and the Red Wings in it. That would be cool as hell.

Post #45 » by **roc** » Thu Jan 21, 2010 2:22 am

I would much prefer them to stay at the Palace. MUCH closer to me.

Low-Ki · Post #46 » by **Low-Ki** » Thu Jan 21, 2010 3:11 am

I don't think Ilitch can afford it really. She seems to want to sell the whole enterprise - Pistons, Palace, Pine Knob. It's also been said Ilitch doesn't have any affinity for basketball.

It's likely not a smart investment being forced to buy the Palace.

JNewton · Post #47 » by **JNewton** » Thu Jan 21, 2010 3:20 am

Low-Ki wrote:I don't think Ilitch can afford it really. She seems to want to sell the whole enterprise - Pistons, Palace, Pine Knob. It's also been said Ilitch doesn't have any affinity for basketball.

It's likely not a smart investment being forced to buy the Palace.

Especially if you're planning to move the team downtown. They can say what they want about the Palace still be usable for concerts/entertainment, but without a pro sports team in the building, it won't remain viable. The Silverdome has proven this (Yes, I'm aware the Palace is a much better venue than the Silverdome was.)

These stories are likely getting leaked by the Illitch camp, hoping the Pistons ownership (whomever that might end up being) will split the costs of a new downtown arena with them. And even if Illitch did buy the Pistons, I'm not sure it'd be a good thing. They'd clearly be #3 on his priority list, as Low-Ki states.

Kyrama · Post #48 » by **Kyrama** » Thu Jan 21, 2010 3:37 am

I'd still support the team if it were relocated. I don't live near Michigan anyway.

Rapsobsessed7 · Post #49 » by **Rapsobsessed7** » Thu Jan 21, 2010 4:32 am

question. Do you believe the selling of the team will impact the trades you do. Example Rip for expiring contracts or something of that nature. They wont move the Pistons will they :S

bstein14 · Post #50 » by **bstein14** » Thu Jan 21, 2010 4:58 am

No way she gets anywhere near $1 billion... If the Pistons are worth $400 million everything else is worth maybe $200-$300 million tops.

Piston Pete · Post #51 » by **Piston Pete** » Thu Jan 21, 2010 5:33 am

Maybe if she waited to sell while the Pistons were competing, she might get more.....

I'd personally be surprised, in this economy, especially in this area, if she got more than $600 million.

Mike Illitch, William Clay Ford, who else could be out there?

bstein14 · Post #52 » by **bstein14** » Thu Jan 21, 2010 5:37 am

Forbes values the team at $473 million, but $113 million of that is for the Palace...

She'll be lucky to get anything more than $500 million for PS&E.

Piston Pete · Post #53 » by **Piston Pete** » Thu Jan 21, 2010 5:48 am

Look at the sell price of the Silverdome.....

Liqourish · Post #54 » by **Liqourish** » Thu Jan 21, 2010 2:14 pm

Rapsobsessed7 wrote:question. Do you believe the selling of the team will impact the trades you do. Example Rip for expiring contracts or something of that nature. They wont move the Pistons will they :S

NO, Rip won't be moved for crap despite what some Raptor fans wish for. We don't want Calderon either. Despite what other fans feel his value is, Joe will not allow getting pennies on the dollar for Rip. He just won't.

Low-Ki · Post #55 » by **Low-Ki** » Thu Jan 21, 2010 3:03 pm

There is 3-4 other NBA teams currently very available and they're having trouble to find buyers. I don't think a Russian oligarch will be trying to buy the Pistons.

The Palace loses all of it's value if Ilitch builds a new arena downtown. Right now the Palace gets all the non Stadium level concerts/shows because JLA is horrid. If the Wings build an arena behind the Fox they'd peel away most of the Palace concerts and such.

Bartender · Post #56 » by **Bartender** » Thu Jan 21, 2010 3:12 pm

Kid Rock ftw.

supermario · Post #57 » by **supermario** » Thu Jan 21, 2010 4:05 pm

Chaldeans are going to buy it.

Drwho17 · Post #58 » by **Drwho17** » Thu Jan 21, 2010 11:34 pm

Well, I think Devos or Gilbert might want to work something out with the league if it comes down to it, sort of like John Henry did in MLB. They both would rather have the Pistons then Cleveland/Orlando I think.

coordinator0 · Post #59 » by **coordinator0** » Fri Jan 22, 2010 1:25 am

Piston Pete wrote:Maybe if she waited to sell while the Pistons were competing, she might get more.....

I'd personally be surprised, in this economy, especially in this area, if she got more than $600 million.

Mike Illitch, William Clay Ford, who else could be out there?

Noooooooooooooooooooooo. We don't need to subject ourselves to the Detroit Lions biggest problem.

b-diddy · Post #60 » by **b-diddy** » Fri Jan 22, 2010 3:59 am

Rapsobsessed7 wrote:question. Do you believe the selling of the team will impact the trades you do. Example Rip for expiring contracts or something of that nature. They wont move the Pistons will they :S

maybe, but probably not. when the accountants are counting beans, contracts are counted as liabilities on the ledger, meaning they count against the sale value (obviously, this isnt exact. a team with lebron on it is worth a whole lot more, rigardless of his contract). new owner typically want it to be *their* team, and not have to wait 5 years to make some decisions.

but the pistons may be an exception. 1) no sale is imminent, or even likely in the short term. until some viable buyers are found, i dont think you'd see the pistons operate in that way. 2) the pistons arent your typical struggling expansion team that no one cares about. its a good bet whoever buys the pistons will buy it because they want to own the pistons, not just an nba franchise.

basically, i wouldnt count on taking advantage of the situation before the deadline, if ever.