Mike Ilitch Deal with Detroit Pistons

On Monday, Mike Ilitch said that he wants to buy the Detroit Pistons in case to make sure that  another buyer doesn't farword the NBA franchise out of town.

Pistons did not comment on Ilitch’s interest in the team which Forbes valued at 479 million U.S. dollars last year.

Pistons owner, Davidson said it is considering the sale of the team itself or as part of a package with Palace Sports and Entertainment, which includes the Palace of Auburn Hills, DTE Energy Music Theatre and Meadow Brook Music Festival.

Her husband, Bill Davidson died last year. The last known owner as "Mr.D" helped the Pistons in winning NBA titles in 1989, 1990 and 2004. Karen Davidson said that she expects the deal needs to be finished by the end of October.
"When I read in the paper there was the chance that this great sports town could lose one of its professional sports franchises, I just didn't see how we could let that happen," Ilitch said. "The Pistons, just like the Red Wings, Tigers and the Lions, have a rich and storied tradition in this community."

Ilitch announced that he wants to build a new stadium for the NHL Red Wings so that the Pistons could share the space.