The ENCORE Digital Weekly Magazine is a
CELEBRITYACCESS publication
June 9, 2011 


ADVERTISEMENT
MAIN PAGE
Feature News
Touring News
Business News
Venue News
Label & Publishing News
Festival News
Awards & Benefits News
Legal News
Technology News
Artist News
Obituaries
Artist Snapshot
Industry Profile
Lefsetz Letter
Vital Signs
International News
Net News


ADVERTISEMENT

ADVERTISEMENT

ADVERTISEMENT

BUSINESS NEWS


Tom Gores
Gores Spears Pistons And PS&E
Posted: June 6, 2011
AUBURN HILLS, MI (CelebrityAccess MediaWire) – Tom Gores has been announced as the fourth owner of the Detroit Pistons' in the franchise's history.

The sale of Palace Sports and Entertainment (PS&E) and the Detroit Pistons to Gores and his investment firm, Platinum Equity, was formally completed on June 1.

NBA Commissioner David Stern announced on Tuesday that the NBA Board of Governors had unanimously approved the change of ownership.

“It's very important to us, because we think Tom will bring renewed vigor and energy to that great franchise,” Mr. Stern said at a news conference prior to Game 1 of the NBA Finals. “He's really very anxious to get going…and that's a very good development for the Detroit Pistons and the good fans of Detroit.”

Karen Davidson transfers control of the company to Tom Gores after nearly 37 years of Davidson family ownership.  William Davidson became the club’s majority owner in 1974.

PS&E’s Michigan venues average 300 events and 3.5 million guests annually.

-- Crystal Lynn Huntoon

© 2001-2017 Gen-Den Corporation. All rights reserved.
CelebrityAccessSM and Gen-DenSM are service marks of Gen-Den Corporation.

** ENCORE readers and those that utilize ENCORE features are bound by the ENCORE NEWSLETTER USE AGREEMENT. If you choose not to be bound by this agreement, please discard the e-mail and notify us of your desire to be removed from future mailings. **