After Mike Ilitch spoke with confidence a few days ago about finalizing his purchase of the Detroit Pistons and then, eventually, moving them downtown, Gregg Krupa of the Detroit News cited a report in the Sports Business Journal that there might be a window for other bidders to get back in:
Negotiations between Ilitch Holdings Inc. and the Detroit Pistons hit a snag, and the other bidders for the franchise have been contacted, according to a report Thursday in the online publication Street & Smith’s Sports Business Journal Daily.
Mike and Marian Ilitch’s company was granted an exclusive 30-day negotiating period in early October, which might have expired this week, although Karen Davidson, owner of the Pistons, could decide to extend it.
The News also reported that two other interested parties, Tom Gores and George Postolos, declined to say whether they’d been contacted again. Ilitch getting the team still seems likely to happen, but having the team sold by the end of November, as was the original stated plan, seems less and less likely the longer this drags on.
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