Tom Gores is now finally, officially, the owner of the Detroit Pistons.
The terms of the sale had been in place a couple months but details still had to be finalized. They have been now. David Stern announced before Game 1 of the NBA finals the sale of the franchise to Gores and his equity firm had been approved by the Board of Governors (the other owners).
“We are delighted that the NBA’s Board of Governors approved Tom Gores’ purchase of majority ownership of the Pistons,” said NBA Commissioner David Stern. “We look forward to the Pistons’ continued growth, both on and off the court, under his leadership.”
The rest of us look forward to something now happening regarding coach John Kuester.
Gores was born in Israel, was raised in Flint, Michigan, went to Michigan State, and started out selling computers in the state. He eventually moved to California where he founded Platinum Equity, which is a power in the leveraged buyout business. At age 46, he is worth an estimated $2.4 billion.
It is Gores and Platinum Equity that purchased the team as well as the Palace of Auburn Hills and DTE Energy Music Theatre. The team had been owned by Karen Davidson, who took control when her husband Bill died in 2009 and she had been trying to sell the team since then. The price is estimated to be more than $400 million.
Report: Matt Barnes texted friend that he beat up Derek Fisher, spat in wife’s face
When an accused domestic abuser shows up uninvited at a family party to—as a source put it to the New York Post—“beat the shit” out of someone for the offense of dating his ex, that is not a wacky character up to zany shenanigans. It is not reality TV melodrama or a cartoon or celebrities being silly. It is the behavior of a dangerous misogynist lunatic. It is an act of violent aggression. It is a man forcefully asserting personal property rights over a woman’s home, body, and life. It differs from what Ray Rice did in that elevator by degree, not by kind, and not by all that much.