Gores Approved

[Sheeeeed]

http://twitter.com/#!/vgoodwill/status/75730998310084608

Goodbye Kuester

[Eshai]

Go Gores, its your Birthday! Go Gores!

[Sheeeeed]

NBA owners have welcomed Tom Gores into their fraternity.


League commissioner David Stern disclosed tonight before Game 1 of the NBA Finals in Miami that the NBA Board of Governors had approved Gores' purchase of the Detroit Pistons from Karen Davidson.


However, this is not the final step before Gores assumes control of the franchise that has been in the Davidson family since 1974. The sale of the franchise -- including all of Palace Sports & Entertainment -- is expected to be completed Wednesday or Thursday.


Spokesmen for Gores and Davidson declined comment Tuesday night. Neither side has made any formal announcements since they jointly announced a “definitive agreement” April 8 -- nearly two months after the Free Press reported a tentative deal had been struck

three paragraph limit

-ajaX

[Rodya]

How much did he end of paying for everything?

[Blkbrd671]

350 mil ish

[Piston Pete]

Eh....350 million (ish) and its not even going to be his fully. Karen wants to keep minority ownership. Oh well, not my money.

[Spider156]

When do you guys think he'll announce who will stay and who won't?

[Bartender]

When do you guys think he'll announce who will stay and who won't?

I don't think any such announcement will ever be made. No way he come right in and throws out a list of who is going to remain with the team. We first have to even see if he's in this to win or to make more money.

[Burton]

Eh....350 million (ish) and its not even going to be his fully. Karen wants to keep minority ownership. Oh well, not my money.

350 seems like a good deal if that number incluces the sports and entertainment part of the deal also. The palace alone has to be worth a pretty hefty chunk.

[Mateen Cleaves]

davidson bought the team for 6 mill decades ago and now his family rakes in al that dought, quite a investment

[Eshai]

You can watch David Stern announce the Gores approval at his press conference tonight here:

He hints at Gores' expressed urgency to get going making changes ASAP.

The part on Gores starts at about 1:40

http://www.nba.com/video/channels/nba_t ... _full.nba/

[Blkbrd671]

To be honest, i believe that was the last reported amount i can remember. i recall KD wanting 400 mil for it and itch was more like 300 and Gore met her half way. we'll find out soon enough

[ComboGuardCity]

Gore needs to do something like this:
[youtube]http://www.youtube.com/watch?v=UMdmWjtDRPE[/youtube]

Stuckey = Lloyd

[Eshai]

Don Shane just reported that Gores is planning to fly to Detroit either late night or early tomorrow and will close the deal tomorrow.

A press conference is expected to be held on Thursday where he will discuss his plan of action.

Shane said dont expect any major announcements at the press conference, but that he is likely to get hounded with those questions by the media.

From Stern's comments, it sounds like Gores has some immediate plans in mind that he's anxious to get started on.

Stern keeps hinting at these "decisions" Gores has to make. I wonder if he has some plans in place aside from just Kuester, as that almost seems too obvious to keep referring to it as a "major change to make".

I dont think its anything to do with Joe, but maybe he's going to announce some other hire, perhaps Magic is back in the fold as president? Just pure speculation on my part, but just changing coaches seems too obvious to be big news at this point. Hopefully he's got else something up his sleeve too.

[Blkbrd671]

ha ha, thanks combogc for that. made my day

[Blkbrd671]

Tom Gores, the owner of the Pistons, made his team's plane available to pick up the Navy Glee Club, which sang the national anthem before Monday's game.

Not thread worthy, but i thought this was pretty cool.

[Kilo]

Why didn`t Ballmer want the Pistons? Was he figuring Sterling was old and would die reasonably soon and he waited on the Clippers (Lakers would never be available)? Or is it an LA media market thing worth so much. I mean $2B for the Clippers when he could have got the Pistons, Palace and DTE for less than a quarter of that.

[Blkbrd671]

Why didn`t Ballmer want the Pistons? Was he figuring Sterling was old and would die reasonably soon and he waited on the Clippers (Lakers would never be available)? Or is it an LA media market thing worth so much. I mean $2B for the Clippers when he could have got the Pistons, Palace and DTE for less than a quarter of that.

He was still the CEO of Microsoft at the time , i believe.