Pistons sale officially complete
Wednesday, June 1, 2011
AUBURN HILLS, Mich. (AP) -- Investor Tom Gores is now officially the owner of the Detroit Pistons.
The team says the sale was formally completed Wednesday, one day after NBA Commissioner David Stern said the league's Board of Governors had approved Gores' purchase of the franchise. Gores takes over following a drawn-out sale by owner Karen Davidson that stretched back before the season.
Karen Davidson transfers control to Gores after nearly 37 years of ownership by the Davidson family. Bill Davidson, her husband, became the club's majority owner in 1974. He died in 2009.
Gores figures to have a busy first month in charge. The Pistons have missed the playoffs two straight seasons, and coach John Kuester's future is very much in doubt.