Pistons sale approved —NBA Commissioner
MIAMI—NBA Commissioner David Stern said Tuesday that the league has approved the proposed sale of the Detroit Pistons to California billionaire investor Tom Gores.
Stern said prior to game one of the NBA finals that he expected the sale to close officially this week.
The Pistons said in April that Gores had reached a tentative deal to buy the club from Karen Davidson.
The deal ended a lengthy effort by Davidson to sell the club. She became owner when her husband died in March 2009.
Davidson had hoped to reach a deal to sell the team by the time the season started in 2010, but talks with Mike Ilitch, owner of baseball’s Detroit Tigers and the NHL’s Detroit Red Wings, collapsed.
Gores, a Michigan native, will take over a struggling franchise.
The Pistons have missed the playoffs for two straight seasons, and could be in for some major upheaval as they begin the rebuilding process.
