Tom Gores and his investment firm Platinum Equity out of southern California have announced a <em>definitive agreement </em>to purchase Palace Sports and Entertainment. Palace Sports and Entertainment includes the Pistons, The Palace, DTE Energy Music Theatre and the operating rights to Meadow Brook Music Festival.
Terms of the agreement were not announced and the deal still has to be approved by the NBA Board of Governors. The deal is expected to be complete by June 30th.
