According to Vincent Goodwill and Gregg Krupa of the Detroit News, it seems that the price tag is holding up the deal that would ultimately name Tom Gores the new owner of the Detroit Pistons enabling the team to finally move forward and begin to truly build for the future.
Goodwill and Krupa however go on to state that Davidson isn’t the only hurdle that Gores has in trying to negotiate a reasonable price to buy the team. David Stern and the NBA owners want to make sure that the team sells for more then $400 million to protect the value of the NBA and it’s other franchises.
The question in this whole situation is what are the chances that Gores buys the Pistons at this point. According to various sources with knowledge of the negotiations, Gores chances of buying the Pistons are now at 50/50.
It seems very plausible that the negotiations with Gores end up having the same fate that they did with Mike Ilitch. Both are very good businessmen and it’s clear they won’t pay the $420 million dollar asking price for the team and venues.
Source: Detroit News
