Palace update.

[GSR121]

I just thought you guys might like an update.As some of you know I work at the Palace and this week week we had our preseason meeting. First off the Pistons are not leaving the Palace. They just completed a HUGE renovation project. New seats for the entire arena, new ice cooling system and floor (very curious?), and a whole bunch of new disabled seating changes. In all, every inch of the building has been overhauled in the last 3 years at a cost of over $25 million! It looks great! We were told the Pistons are here to stay and the owner is committed to keeping them and making them the best team he can. Expectations this year are to make the playoffs, anything else would be great but that is the goal for this year.

[dVs33]

nice. I haven't been there in over 3 years so i can't wait to see the differences.

[kurtis48239]

I just thought you guys might like an update.As some of you know I work at the Palace and this week week we had our preseason meeting. First off the Pistons are not leaving the Palace. They just completed a HUGE renovation project. New seats for the entire arena, new ice cooling system and floor (very curious?), and a whole bunch of new disabled seating changes. In all, every inch of the building has been overhauled in the last 3 years at a cost of over $25 million! It looks great! We were told the Pistons are here to stay and the owner is committed to keeping them and making them the best team he can. Expectations this year are to make the playoffs, anything else would be great but that is the goal for this year.

(3 months later).....BREAKING NEWS........

Detroit Pistons owner Tom Gores has sold the Detroit Pistons for an undisclosed amount,after dumping 25 million into the palace and up grading the teams talent base,gores is expected to make a nice profit............In a turn of events thats likely to piss off detroit and bring rejoice to seattle,Gores has sold the pistons to an owner that will move the pistons to seattle and bring the NBA back to washington.We will report more on this on going **** as more news pours in ....

[Sheeeeed]

I don't really think this disproves anything about the Ilitch rumors. Even if Gores sold the team tomorrow the Pistons would probably play at the Palace for at least another 5 years. Mike Ilitch's health may have complicated things too if there was truth to the rumors.

[Warspite]

I cant imagine any new owner buying the Palace and then closing the arena.

[ImHeisenberg]

Shut up and scan my ticket. I don't go to McDonald's for advice on whether I should invest from the fry cook, and I don't get my information on the future of the Pistons from the ticket taker.


joking aside, thanks for the post. It's less than informative, but I'll give you an A for effort.

[imagump1313]

Nice information! I had no idea they were doing any renovations.
25 million is a drop in the bucket compared to building an entirely new arena in Detroit. Gores just made the team more valuable if he is trying to sell it. Anyone who thinks that anyone besides Illitch would move the team away from a building they 100% own is crazy.

[Uncle Mxy]

Open practice at the Palace is tomorrow if people want to check out the new renovations.

Personally, I'm more curious about the new players, but hey.

[Hotmayo]

If anything, gores made the team look more valuable to make a profit bc there's is always the possibility to sell.

He's not stupid

[ComboGuardCity]

Minor League hockey? That would be bold

[RTM]

Hopefully the purple upholstery on the seats are gone... I always hated it.

[Sheeeeed]

Minor League hockey? That would be bold

More likely for Disney on Ice type events.

[WC NBA Fan]

I cant imagine any new owner buying the Palace and then closing the arena.

Regardless of where the Pistons wind up playing, the Palace is staying open and would be just as big a revenue producer if the Pistons were to leave.

What people forget in a hypothetical Downtown Pistons situation is that the Palace would rake in even more events due to the new downtown arena being so booked with sporting events. Not only would the Wings and Pistons take up so many dates but you would have frozen fours, NCAA tournament games and what not. Therefore, concert acts would be coming to the Palace in record numbers since they would have nothing but open dates in which to choose from. The various concert acts as well as Disney and Ice and whatever else would be in position to schedule their tours the way they see fit and the Palace would be in perfect position to schedule them since they wouldn't have to schedule around the Pistons.

There's a reason why Gores bought the entire PSE as opposed to just the Pistons. PSE is the bread winner in the long run.

As for the renovations in and of itself, I wouldn't read too much into it regarding how it involves the Pistons. Who knows? Maybe they'll play there for another 50 years. It wouldn't surprise me. But it's not because of the renovations. Milwaukee is making over $10 million in renovations to the Bradley Center knowing full well that it needs to be replaced, Hansen was going to spend over $7 million on Key Arena had the Kings moved to Seattle and the Warriors are spending even more than Gores for the Oracle Arena and they are full steam ahead on the SF waterfront move.

Lastly, I would never read too much into what quotes are out there. They say one thing but completely mean something else in the best interest of leverage. If the Pistons hypothetically wanted to move downtown, it wouldn't make sense to say it now. Keep the leverage high and make everyone believe you'll be at the Palace long term so that you have the edge on lease negotiations at the new building.