Reports came out yesterday — ones even briefly echoed on this blog — that a number of Middle Eastern investors were in talks to buy the Detroit Pistons.
But that is not the case, the NBA told Tom Ziller of SBNation. The league called it a miscommunication between NBA commissioner David Stern and a foreign reporter. The league says Stern simply said the league was open to foreign investment, not that talks about a specific team were underway.
Mike Illitch — the owner of Detroit’s Red Wings and Tigers, who made his money as the founder of Little Cesar’s Pizza — had been in exclusive negotiations to buy the team, but terms of the deal have not been finalized. Karen Davidson took over control of the team after the death of her husband, and she quickly looked to sell the team.