Ilitch in talks to buy Pistons 07/10/2010 |
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The owner of Detroit's baseball and ice hockey teams has opened negotiations to buy the Detroit Pistons basketball team, according to two reports.
The Detroit Free Press, citing an unidentified source, and Crain's Detroit Business claimed this week that Karen Davidson is in talks to sell the National Basketball Association team to Mike Ilitch and that a deal is expected within 30 days.
A spokesman for the Pistons declined to comment and Ilitch spokeswoman Jennifer Haselhuhn said the Ilitch family had signed a non-disclosure agreement that bars discussion of their bid.
Ilitch, who owns the Detroit Tigers baseball team and Detroit Red Wings hockey team, said in August that he wanted to buy the Pistons, confirming speculation that had raged since the basketball team's long-time owner died last year.
William Davidson, who owned the Pistons since 1974, died last year at 86. His wife Karen said in January she would sell the club and its arena.
Ilitch and his wife Marian bought the Red Wings in 1982, turning a struggling team into a four-time Stanley Cup champion. He bought the Tigers in 1992 and moved it to a new ballpark in 2000.
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