Report: Tom Gores Will Be Sole Owner Of The Detroit Pistons
By Dan Jenkins
@DanTJenkins
When Tom Gores bought the Detroit Pistons from the Davison family in 2011, he was given a majority ownership that he shared with his company, Platinum Equity.
According to a report on Monday, Gores will purchase the remaining 49 percent of the franchise that he didn't already own.
Gores has poured $40 million worth of renovations into the Palace of Auburn Hills since he bought Palace Sports and Entertainment from Karen Davison for $325 million.
Since Gores purchased the team, the Pistons have posted a combined record of 115-197 in four seasons.
Gores, 51, is the Chairman and CEO of Platinum Equity, a global investment firm whose holdings include 34 portfolio companies in technology, media and entertainment, industrials, metals processing, automotive supply, and distribution and logistics.
