The tentative deal, which also includes The Palace of Auburn Hills and DTE Energy Music Theatre, must be approved by the NBA. Terms were not disclosed.
“We are pleased to welcome Tom Gores as the new owner of the Detroit Pistons and Palace Sports and Entertainment,” Davidson said in a statement. “Just as my late husband, Bill Davidson, was the face of the Pistons, I am confident that Tom will bring the same energy, dedication and love to this organization.
Gores, 46, has a degree from Michigan State University but now lives in California with his wife and children.
He founded Platinum Equity in 1995, and in its 2010 list of the 400 richest people in America, Forbes put Gores in a tie for 153rd with a net worth of $2.4 billion.