California billionaire Tome Gores is inking a deal to purchase the Detroit Pistons from Karen Owens, wife of the late former Pistons owner, Bill Davidson. In the deal, Gores also picks up The Palace of Auburn Hills and DTE Energy Music Theatre. Karen Owens in a statement about the deal:
“We are pleased to welcome Tom Gores as the new owner of the Detroit Pistons and Palace Sports and Entertainment. Just as my late husband, Bill Davidson, was the face of the Pistons, I am confident that Tom will bring the same energy, dedication and love to this organization.”
Gores is CEO of Platinum Equity Firm and worth an estimated $2.4B according to Forbes. He’s a self-made billionaire who worked his way through Michigan State University doing telemarketing. Can’t knock the hustle.
Fan reaction to the deal: