Tom Gores

Tom Gores isn’t buying Pistons, his equity firm is

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Piston fans, there is just never going to be another owner like Bill Davidson.

The storybook ending of a drawn-out, sloppy sale of the team after his death is that Michigan-raised billionaire Tom Gores bought the Pistons and that things will now start back on the path to the glory days.

Except, it’s not really that way. The people at Forbes are here to burst your bubble (via Ball Don’t Lie): Gores isn’t buying the team, his equity fund is.

That’s right: The Detroit Pistons are about to become the first NBA franchise to be owned by a private equity fund. Not by flesh-and-blood individuals who made their fortunes in private equity (like the Boston Celtics or Golden State Warriors), but by a $2.75 billion financial vehicle. What that means is that this the Pistons are about to become an investment, not a labor of love. Something bought for the purpose of later being sold, not to keep in the Michigan-loving family for generations.

The NBA is obviously aware of this reality – my understanding is that Platinum has fully explained to league officials how PE funds operate – and apparently is okay with it.

Yes, it’s true that Gores will invest personal money into the deal. But it’s also true that Gores invests personal money alongside all Platinum Equity deals, by virtue of its partnership agreement. Don’t recall any “hometown hero” stories when Platinum acquired fastening systems manufacturer Acument Global Technologies, which happens to be headquartered in Sterling Heights, Michigan.

Gores may well still hold a candle for Bob Lanier, but his primary motivation (and fiduciary duty) today is to turn a profit. If that can be done by maximizing other assets acquired in the transaction — including the Auburn Hills arena, an outdoor concert venue and a music festival — while using the ball-club as a loss leader, then that may be what happens. Or perhaps Platinum is counting on a favorable reworking of the players’ collective bargaining agreement, to move the NBA closer to the NFL’s parity-producing model.

The good news for Pistons fans is this: Winning helps turn profits. If the goal is to make money, then Gores and firm have an incentive to find a winning formula. Still, the idea of an equity fund owning the team is a little disturbing, that the team is not seen by its owners as anything more than an asset.

Sadly, the days of a friendly, community-minded hometown owner are fading fast. If not gone completely.

Matt Barnes says he went to house because his son looked distressed

Derek Fisher, Matt Barnes, Russell Westbrook
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So far, the only substantive accounts of the Matt Barnes-Derek Fisher altercation have come from anonymous sources.

The Knicks coach has deflected questions.

But Barnes is giving his account, at least of the lead-up.

Ramona Shelburne of ESPN:

It’s completely understandable that Barnes would act to ensure his children’s welfare.

And let’s say everything he said is true. It still leaves important questions unanswered.

Did Barnes – as he reportedly texted a friend he did – beat up Fisher and spit on his estranged wife, Gloria Govan? If so, why did Barnes deem that necessary to protect kids?

Gregg Popovich resting himself for Spurs game at Sacramento

Gregg Popovich
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Gregg Popovich said he wouldn’t coach in July.

Apparently, he’s taking off part of October, too.

Marc J. Spears of Yahoo Sports:

It’s not that surprising to see Tim Duncan, Tony Parker, Manu Ginobili and Boris Diaw staying home. Veterans miss preseason games all the time just to rest. With the Spurs, it happens even in the regular season.

But it’s still a little strange to see the head coach sit out, even though Popovich also did it last year.

It makes sense, though. Who cares about this preseason game? If travelling less helps the 66-year-old Popovich stay fresh in the years ahead, that’s well worth it. Plus, it gets Messina a little extra experience. Some day, he might be the head coach.