According to Gregg Krupa and Vincent Goodwill of the Detroit News, former Houston Rockets president George Postolos has emerged as another candidate to purchase the Detroit Pistons.
“I am bullish on the NBA, the Detroit Pistons and Palace Sports and Entertainment,” Postolos said to The Detroit News in an email. “I have nothing more to say for now.”
Postolos lost his chance to purchase the Charlotte Bobcats earlier this year. The Bobcats were eventually sold to a group that consisted of Michael Jordan as a minority owner. Postolos is president and CEO of The Postolos Group LP, an investment firm based in Houston that seeks to acquire sports teams.
In addition to Postolos, Detroit business owner Mike Ilitch mentioned to the Detroit News that he is interested in buying the team as well as two other unidentified parties.
Postolos, 46, was president of the Rockets beginning in 1998, amid a difficult relationship between the city and the franchise. When he left in 2006 the situation had improved markedly.
After leaving the Rockets, Postolos started The Postolos Group. Sports industry sources said he likely would need partners to put together a deal to purchase the Pistons, a franchise valued at about $475 million.

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