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Tom Gores buys Pistons for $420 million

UPDATE: Gregg Krupa of The Detroit News reports Tom Gores has not bought the Pistons.

Tom Walsh of the Detroit Free Press:

Los Angeles financier Tom Gores has struck a tentative deal to buy the Detroit Pistons from primary owner Karen Davidson, a person familiar with the situation told the Free Press.

The sale, which must be approved by the NBA, may be announced Friday.

The agreement, valued at $420 million, was reached this evening, after several days of intense bargaining over details.

6 Comments

  • Feb 10, 201110:26 pm
    by Terrico

    Reply

    glad they reached an agreement but why does the title say $460 when the article says $420?

  • Feb 10, 201110:49 pm
    by Travis

    Reply

    So we can start making some trades now? Or will Gore be stingy?

  • [...] This post was mentioned on Twitter by Patrick James Clough, labcbaker, Joanne Ross, Patrick Hayes, PistonPowered Feed and others. PistonPowered Feed said: Tom Gores buys Pistons for $460 million: Tom Walsh of the Detroit Free Press: Los Angeles financier Tom Gores ha… http://bit.ly/eFC6t9 [...]

  • Feb 11, 201112:24 am
    by Jacob

    Reply

    I think this is fantastic news

  • Feb 11, 20119:15 am
    by Jason

    Reply

    I almost s#$% myself when I first read this last night.. Sure hope it all goes through, I really don’t care who is buying at this point – I just want to deal to be over with. Hopefully, this is almost over..

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