AP source: Pistons to sell team to Mike Ilitch

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Ilitch added the Tigers in 1992 for about $85 million. They struggled for years _ hitting rock bottom in 2003 with an AL-record 119 losses and an apathetic fan base _ before making a surprising run to the 2006 World Series and having only one losing mark the past five years.

Owner Karen Davidson has said she was considering a sale of the Pistons by 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. She had expected the deal to be done by this month’s season-opening game.

The Pistons, who wouldn’t comment on The AP report Tuesday, accepted bids from at least three suitors in June and again earlier this month. Platinum Equity chairman Tom Gores did not return a call, while The Postolos Group president George Postolos said he thought interest in the Pistons was a good thing.

“I remain committed to becoming an NBA owner, and see the strength and depth of interest in the Pistons as a positive for the league and for Detroit,” he said.


AP Business Writer Jeff Karoub in Detroit contributed to this story.

Copyright 2014 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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